Non-food discount retailer Action reached the five billion euro turnover mark last year. Owner 3i now estimates the discounter's value at 10.25 billion euros and calls the coronavirus crisis just a "short-term disruption".
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As Belgian stores were allowed to reopen today, the image is rather mixed: some chains (like Ikea) saw hours-long queues, others remained almost completely empty.
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The Dutch association of private equity companies (NVP) denounces the way in which the owners of Action and Hunkem?ller are coping with the corona crisis. According to the lobby club, these retailers are shifting the consequences of the crisis too quickly and unilaterally to others.
Next Thursday will be an all-important day for the Belgian branch of Dutch chain Blokker. The trade unions fear the announcement of new store closings, or an even worse fate for the chain...
Retailers in the Benelux will face declining consumer confidence and increasing competition in the coming years, credit rating agency?Moody’s?says in a new report. Traditional retail chains are forced to make high investments due to the growth of online retail, which has a negative impact on profits and creditworthiness.
Action is writing one of the most spectacular growth stories of any foreign distributor in France. The discount chain opened its first French store in 2012, and only seven years later it already reached the milestone of five hundred stores.
The owner of Dutch retail chain Action, British investment company 3i, announced in its half-yearly figures that the discounter is now worth more than 10?billion euros. Last year, the value of the retailer was estimated at 'just' 6.5?billion.
Their first Belgian store has only just opened, but already French home decoration discounter Centrakor aims for a nationwide expansion. CEO Olivier Rondolotto is already entirely convinced: a dozen stores in the French speaking part of Belgium is only the precursor to a conquest of Flanders.
Intermarché wants to further strengthen its position in Belgium, both through new stores and through the expansion of existing stores. With the new Intermarché Express brand, the musketeers are aiming at the city centres.
Investment company 3i, which owns Action, does not want to give up its interest in the non-food discounter. On the contrary, 3i even wants to expand its interest, but without paying for it itself.
Dutch non-food discounter Action has achieved a 23?% sales growth last year, ending the year at 4.21?billion euros in sales. However, that was mostly done through opening new stores: comparable growth was?'only' 3.2 %.
Investor 3i?wants to keep a hold of Action?after all. Even though the owner made it seem like it was looking for a buyer, 3i now denies it.
Action’s owner, investment firm 3i, aims to sell a part of the discount store chain next year. The Brits would want to sell a 35 % stake in the firm.
Action’s turnover grew 28 % last year, to 3.4 billion euro. The chain has a more international presence, but its growth pace is below that of previous years, when growth exceeded 30 %.
Store chain Action will make some changes to its top level management: merchandise director Simon Hathway will leave the company at the end of March and be replaced by Hajir Hajji, who will in turn be replaced by Bart Raeymaekers.
Tomorrow is a special day for Dutch discounter Action, as?it will open its 1,000th store in Gorinchem (in the Netherlands). The number of Action stores has almost doubled in the last two years.