Greek toy retailer wants to speed up expansion in Romania

Greek toy retailer Jumbo plans to open three hypermarkets for toys and decorations in Romania in the next year. Its local network will go up to about 25 stores until 2022, from eight stores currently, reports local Profit.ro. The Greek retailer previously estimated that the network in Romania will have around 20 stores by 2022. Jumbo increased by 36% its sales in Romania in the fiscal year that concluded on June 30. During this period, it inaugurated a new store in Constanta. The store, opened last month, is located in the former Real hypermarket in the city. It covers about 16,000 sqm. The next three Jumbo hypermarkets will open by June 2018. The company currently operates a network of 73 stores, 51 of which are in Greece, five in Cyprus, nine in Bulgaria and eight in Romania. The group recorded sales of over EUR 681 million between July 2016 and June 2016, up 7% year-on-year. editor@romania-insider.com