Jumbo Speeds Up Plans for New Stores in Bulgaria

Jumbo, the Greek chain of toy hypermarkets, announced plans to open six more stores, including two in Bulgaria, by the end of 2010, six months earlier than initial plans.
“Three of the new outlets will be located in Greece, one – in Cyprus and another two in Bulgaria,” Evangelos Vakakis, Managing Director of Jumbo, said.
Greece’s largest toy retailer posted a 5.4% fall in nine-month net profit, as a one-off tax aimed at taming a huge national deficit wiped out growth.
The company said net profit fell to EUR 64.4 M in the nine months to end March after the government imposed a EUR 10 M tax on the retailer.
Pre-tax profit rose 11% to EUR 96 M.
Jumbo operates 45 shops in Greece, Cyprus and Bulgaria. The company opened its first store in the Bulgarian capital Sofia at the end of 2007. It has an area of 15,000 square meters and is located on Bulgaria boulevard.