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Retail

Action Sees Revenue Grow By A Third In H1 2023

By Dayeeta Das
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Action Sees Revenue Grow By A Third In H1 2023

Discounter Action has posted a 33.5% year-on-year increase in revenue, to €5.2 billion, in the first half of its financial year.

Like-for-like sales for the period grew by 21.8% compared to the same period last year, the company noted.

CEO of Action, Hajir Hajji commented, "In the first six months of 2023, we again saw more customers coming to our stores, increasing our net sales. Such growth requires a lot of commitment from our employees.

"I am therefore pleased that in our latest employee satisfaction survey, they indicated they are enthusiastic about their work and recognise their contribution to Action’s success."

In April of this year, the discount retailer was awarded ‘Favourite Retailer [in] France’ by consulting agency, EY-Parthenon, as part of its annual study.

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Store Network

Action added 90 new stores to its network in the first half, taking the total to 2,353 outlets in 11 countries.

In the previous quarter, the retailer also introduced a web shop in Belgium, following the success of the format in the Netherlands.

The web shop sells many products that are not available in stores, for example, because of their size.

Elsewhere, Action has pledged to reduce 60% of emissions from its operations (scope 1 and 2) by 2030, compared to the base year 2021.

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To achieve this target, Action has implemented various measures, including the introduction of renewable (HVO 100) diesel for 150 trucks operating from its distribution centres in Zwaagdijk and Echt.

Full-Year Performance

In March of this year, Action reported a 30% increase in sales in 2022, to €8.9 billion, with operating EBITDA growing to €1.2 billion.

At the time, the retailer said that the increase in sales was primarily the result of opening new stores, a higher visit frequency and a higher purchase amount per visit.

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