Trade : Biggest toy shop chain Greece comes to Romania

The Greek retailer for toys and household products Jumbo is ready to expand to the Romanian market, where it intends to open 8 stores by 2016, with sales estimated at 37.3 million euro.The company, the largest toy shop chain in Greece, owns land of 47,000 square meters in Bucharest where it will open the first store in 2014, according to annual Jumbo report.

An analysis made by Investment Bank of Greece (IBG) shows that Jumbo intends to open two stores in Romania in 2014, followed by three others in the next two years in eight locations.IBG estimates that Jumbo should register sales of 8.8 million euro in Romania in 2014, which will grow to 22.7 million euro in 2015 and 37.3 million euro in 2016.

After 26 years of activity, the company is present in Greece (51 shops), Bulgaria (7 shops) and Cyprus (3 units), and has over 3,400 employees. In Macedonia and Albania Jumbo network functions as franchise. Jumbo has been listed on the stock exchange in Athens since 1997.Besides toys, which represent most of the business, company shops offer products for child care, home decorations and products, all at very low prices.

Jumbo registered a net profit of 17.1 million euro in the first quarter of 2012 fiscal year, slightly on the drop compared to the previous year. Company sales grew by 2.8% from 120.5 million euro to 124 million euro.

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