Greek toy retailer Jumbo is preparing for expansion into Romania in 2014

Greek toy retailer Jumbo plans to open its first store in Romania in 2014, and to further expand its presence in neighbouring Bulgaria, the company said.

Jumbo plans to open eight stores by 2016, according to the company. Jumbo hopes to achieve a sales level of some EUR 37 million in 2016. The company aims to open in 2014 the first stores in Romania, where it already owns a piece of land in Bucharest, some 47,000 sqm.

Currently, the group operates a network of 62 stores, eight of which are located in Bulgaria, 3 in Cyprus and 51 in its home country Greece. The Jumbo network runs under franchise in Macedonia and Albania.

The company expects sales growth of up to 2.0% and net earnings of 70 million euro ($90.4 million) in the fiscal year 2012 – 2013

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