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FMCG retailer Profi opened today its first store in Bacau Romania and the 151st in the country. The new store has a sales area of 368 sqm and employs 22 people.
The retailer announced at the beginning of the year plans to open some 45 Romanian outlets in 2013 will require investments of about EUR 18 million.
In addition to its existing proximity format, this year the Profi will launch two new smaller formats – Profi City which is adapted for large urban areas and Profi Loco which will be opened in rural areas. The first two such stores could be opened this May in Transylvania but the development in urban areas remains the company’s focus.
Profi closed 2012 with a network of 149 stores, 45 of which were opened the same year.
The retailer said the business remained on an upward trend last year in terms of global as well as like-for-like sales but the actual financial results for 2012 will be made public in a few weeks.
Profi reported in 2011 sales of RON 1.04 billion (approximately EUR 214.5 million), up 29 percent y-o-y. The growth was mainly generated by the opening of 26 new stores, while like-for-like sales growth was 7.5 percent.
Profi stores are owned by Enterprise Investors, a Polish private equity company that bought the retail network in 2010 from Duna Waiting Participation for EUR 66 million. Source; Business Review Romania
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