The Greek toy retailer Jumbo will open three stores this year in Romania, in Arad, Ploiesti and Pitesti, and will reach a network of seven stores on the local market, recording sales of almost EUR 9 million in the 2013 / 2014 fiscal year, according to Mediafax newswire.

All these units will be opened in the locations where the German DIY retailer OBI carried its activities, before deciding to leave the Romanian market. The company plans to develop a network of 12 to 18 units in Romania. Jumbo's stores are large format- some 12,000 sqm per store.

The retailer has posted net sales of EUR 8.8 million and a profit of EUR 2.14 million with only two stores, in the 2013/2014 fiscal year. In the first quarter of the 2014/2015 fiscal year (July-September 2014), Jumbo had sales of EUR 2.7 million and a net profit of about EUR 384,000.

Jumbo Group operates a network of 70 stores in four countries, 53 out of which are located in Greece, 5 in Cyprus, 8 in Bulgaria and 4 in Romania as well as the online store e-Jumbo.

Diana Mesesan, diana@romania-insider.com