Maxima Named Among Top 10 Retailers In Bulgaria
Maxima Bulgaria has placed among the top 10 retail chains in Bulgaria for the first time, according to the 'First in the Business' ranking by local magazine Manager.
The company placed ninth among the 30 largest retailers in the country and has been described as one of the fastest-growing companies in Bulgaria based on its financial performance and presence on the market.
Maxima has been present in the Bulgarian market through the T Market banner since 2005. At the end of July 2017, the group operated some 63 supermarkets in 30 cities across the country.
Maxima Bulgaria’s turnover in 2016 grew by 22.1% year-on-year to BGN 172.9 million (€88.4 million). The supermarket chain recorded a 10.4% growth to BGN 141.6 million (€72.4 million). Last year alone, the company invested over BGN 19.6 million (€10 million) in its Bulgaria operations.
Maxima Bulgaria is part of the Maxima Grupe Holding, which operates retail chains in Lithuania, Latvia, Estonia, Bulgaria and Poland.
Consolidated turnover at group level rose by 0.4% last year, compared to 2015. During this period, the Bulgarian company unit registered the largest increase in sales turnover, rising 22.1%.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. Click subscribe to sign up to ESM: The European Supermarket Magazine