Low-cost chain Action wants to open about 300 more stores in Europe this year. The retailer is now said to be worth more than 5 billion euros.
Saturation
The retailer will add branches mostly outside the Netherlands, reports NU.nl, based on the annual report of major shareholder 3i. The Netherlands already has about 400 Action stores and is thus close to saturation.
In other European countries there is more room for growth. The retailer recently opened its 600th store in France and its 400th in Germany. The discounter also recently opened stores in the Czech Republic and Italy.
5.3 billion euros
As previously reported, Action’s turnover increased last year by 9% to 5.6 billion euros. This growth was due to the opening of 164 new stores, because on a comparable basis, revenues decreased by 1.4% as a result of lockdowns. The gross operating profit was more than 12% higher than a year earlier and landed at 609 million euros.
According to owner 3i, Action is now worth 4.6 billion pounds (5.3 billion euros). A year ago, the investment company still valued the retailer at 3.9 billion euros.
