GREECE: Jumbo chain expands

Greek toy retailer Jumbo's full year sales rose 17.9 per cent, after increasing its store network.
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Sales for the country's largest toy company, which also sells stationery and home items, rose to €403.9m for the year to June. In December, the firm launched two new stores in Athens and Bulgarian capital Sofia, bringing its total number of outlets to 41.

"The group managed to achieve this strong performance thanks to its stores in Greece and its department store in Bulgaria, as the ongoing dockworkers strike makes the achievement of a similar performance in Cyprus difficult," the company said.

The firm had anticipated a 17.4 percent rise in sales and a 21.4 per cent rise in net profit. It did not give a figure for net profit.

Jumbo has said it plans to open three more stores in Greece by December 2008 and 11 more in Bulgaria.
(Reuters)

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