Discount Retail Chain Action (owned by PE 3i Group) wants to expand significantly this year and open about three hundred new stores. Only a handful of the stores are located in the Netherlands, the majority elsewhere in Europe, according to the annual report (pdf) of major shareholder 3i.
Every year, Action opens between five and ten new stores in the Netherlands. A spokesperson says that this will also be the case this year. Furthermore, the company is mainly looking at remodeling, enlarging or renewing existing stores in our country, of which there are now around four hundred.
The great growth must take place abroad. For example, the chain recently opened the 600th store in France and the 400th in Germany.
In addition, Action has recently entered several new markets. For example, the chain opened five stores in the Czech Republic last year. The first results are so good that the chain will open new stores. In addition, the first two branches in Italy were opened as a test at the end of last month.
According to 3i, Action was on track to meet the target of three hundred new stores in the first four months of this year. The retail chain is now also achieving good results because stores reopened after the lockdowns.
Earlier it appeared that, despite the corona pandemic and temporary store closures, Action still managed to grow in 2020. The company saw revenues increase by 10 percent and profit (EBITDA) grew by 14 percent.
See here for more: https://www.3i.com/media/4659/3i_group_ar_2020.pdf
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