Dutch non-food discount retailer Action has posted growth in turnover and operating profit in its 2021 financial year, according to news portal Retail Detail.
Action attributed its growth to new-store openings and added that it plans to continue expanding its network over the next few years.
The company’s turnover increased by a quarter, to €6.8 billion, with operating profit growing by a third, to €828 million.
The growth was achieved despite store closures due to the pandemic in several countries, including Austria, Germany and the Netherlands.
Action also lacks an extensive e-commerce offering to compensate for offline revenue losses, the report noted.
Store Launch
In 2021, the retailer opened 250 new outlets and achieved a store count of 2,000 in January of this year, with its latest opening in Prague.
Presently, the company operates in nine countries and offers an ever-changing range of 6,000 products to 11 million customers every week.
It aims to enter its tenth market this year by launching operations in Spain.
‘A Significant Achievement’
Hajir Hajji, CEO of Action, said, “To start the year with this great milestone is a significant achievement for the more than 65,000 Action employees in Europe working in our 2,000 stores and beyond.
“We will further accelerate our international growth in the coming years to serve millions of customers across Europe,” Hajji added.
In 2011, British investment fund 3i acquired Action for around half a billion euro.
Currently, the retail chain is valued at €14.9 billion and has already earned its owner €2.8 billion in dividends since its acquisition.
© 2022 European Supermarket Magazine. Article by Dayeeta Das. For more retail news, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.
