Discounter Action sees sales surge thanks to budget shoppers [Reuters]
AllianceBernstein Holding L.P. Units (AB)
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Source: Reuters
said on Thursday, as the company expands its store network and attracts more people shopping on a budget. Action has been a beneficiary as inflation in Europe reduced consumers' spending power, driving them to trade down from more expensive supermarkets to find cheaper alternatives for everything from laundry detergent to dog treats. Report this ad Action stores sell branded food, soft drinks and household items, toys, kitchenware, and decorations, and it says two-thirds of its products cost less than 2 euros ($2.15). The retailer sources from stocklot traders, importers, manufacturers, and big consumer brands, and only one-third of its product offering is fixed - which it says draws shoppers in to "treasure hunt". "More and more people come to the stores over time because of, a) the pricing, but also b), the surprise," 3i CEO Simon Borrows told Reuters in an interview, adding that the group aims for Action to grow as big as Aldi, Lidl, or IKEA. Action can keep prices low
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AB
Earnings
- 4/25/24 - Beat
AB
Sec Filings
- 5/15/24 - Form 8-K
- 5/9/24 - Form 8-K
- 4/25/24 - Form 8-K
- AB's page on the SEC website