Greek toy retailer Jumbo said that it targets at least 11 new store openings in Romania in the next five years, expanding its network in the country to 25 stores.
This year, the retailer aims to open a new 12,500 sq m hyperstore in the southern city of Craiova and to launch its online store, it said in a presentation of its 2020 financial results published on Thursday on its website.
For 2022, Jumbo targets to open two new stores in Romania.
Jumbo posted a gross profit of 84.4 million euro ($101 million) in Romania in 2020, compared to 75.4 million euro a year earlier. The retailer's sales in Romania amounted to 170.1 million lei in 2020, compared to 150.8 million lei the year before.
Jumbo's sales in Romania represented some 24,51% of the group’s 2020 turnover. The Romanian market generated 31.4% of its total earnings before taxes, financial and investment results.
At the end of 2020, Jumbo employed 1,491 in 14 hyperstores in Romania's Bucharest, Timisoara, Oradea, Arad, Ploiesti, Pitesti, Constanta, Suceava, Bacau, Braila and Brasov.
The company operated 80 stores in Greece, Cyprus, Bulgaria and Romania and two online stores in Greece and Cyprus at the end of 2020.