Toy retailer Jumbo plans expansion across Romania

Greek toy retailer Jumbo, which currently runs two stores in Romania, plans to reach a network of 12-18 units on the local market. The retailer wants to open two new stores by December this year, in Bucharest and Oradea, and another one in Arad in the first half of 2015, reports local Wall-street.ro. Each of the three stores will cover an area of 12,000 sqm. The first Jumbo store in Romania was opened in Timisoara and covers an area of 13,000. The second store is in Bucharest and covers 14,000 sqm. In the 2013-2014 fiscal year, the retailer posted net sales of EUR 8.8 million with its two stores and a profit of EUR 2.14 million. At the end of June, Jumbo had 142 permanent employees. Irina Popescu, irina.popescu@romania-insider.com