The retailer owns a 47,000-sqm plot of land in Bucharest and wants to open its first Romanian stores in 2014, the company said in an annual report Thursday.
According to an analysis by the Investment Bank of Greece (IBG), Jumbo plans to open two stores in Romania in 2014, to be followed by three stores in 2015 and three more units in 2016.
IBG estimates, based on data provided by the retailer, Jumbo will register sales of EUR8.8 million in Romania in 2014, EUR22.7 million in 2015 and EUR37.3 million in 2016.
Jumbo was set up 26 years ago and is present in Greece (51 stores), Bulgaria (7 units) and Cyprus (3 units). It employs over 3,400 people.
Jumbo registered net profit of EUR17.1 million in the first quarter of the current fiscal year (July 2012 – June 2013), slightly down from EUR17.9 million in the same interval of the previous fiscal year. Its sales increased 2.8% to EUR124 million from EUR120.5 million.