Another Strong Quarter For Action, More Price Reductions Announced

• Net sales in the first nine months of 2023 increased 30.5% to €7.9 billion
• Like-for-like sales growth was 19.2%, mainly driven by growth in number of transactions
• 153 stores added, growing to 2,416 stores in 11 countries
• More than 900 product prices reduced in the past quarter; more price cuts announced

Every week Action welcomes millions of price-conscious customers to its stores. Net sales for the first nine months of 2023 rose to €7.9 billion (+30.5%) as a result of Action’s rapid international expansion and strong growth in existing stores. In the first nine months of 2023, Action added 153 new stores. The total number of stores grew to 2,416 in 11 European countries. The growth of existing stores (like-for-like) was 19.2%. Action is clearly gaining relevance for its customers.

Action celebrated several expansion highlights last quarter. In Germany, Action opened its 500th store in Düsseldorf. In Austria, store 100 opened its doors in Vienna. And already in its second year in Italy, Action opened its 50th Italian store in Rome. Action’s workforce in Italy grew in two years to more than 1,000 employees in total. In Poland, the 4,000th employee was welcomed. Action has established itself as an important employer in these countries.

Price cuts across Action’s entire product range

Due to lower costs for raw materials, transport and energy, Action has reduced prices since this summer. The company will continue to pass on cost savings to customers for the rest of this year.

Hajir Hajji, CEO of Action, explains: “Offering products for the lowest price is in our DNA. When buying prices rose sharply in recent years, we chose to absorb some of the higher costs ourselves, and not pass on all cost increases to our customers. Since the summer, we have seen the trend of higher buying prices reverse and we have already been able to reduce more than 900 prices (15% of our assortment), some by more than 10%. Of course, we also still see cost increases such as rent and labour, but on balance we are able to reduce prices for several products. Our customers will continue to see price reductions for the rest of this year and the holiday season.”

Progress in Action’s sustainability programme

Action is also making progress with its sustainability programme and the underlying four pillars People, Planet, Product and Partnerships. In People, Action focuses on employee development. Not only has the company so far added 4,616 new employees in 2023, it also awarded a thirty year anniversary bonus to its employees for their commitment to building a strong Action. In its Product pillar, Action introduced its first fully circular product in Benelux stores in September: a storage basket made of recycled plastic from Action’s own operations. More circular products will follow this first step.

Regarding Action’s ongoing Partnerships, Action extended its partnership with SOS Children’s Villages for another three years. Action supports one child per store, office location or owned DC, in addition to a general donation. Action also once again contributed to several emergency relief programmes with financial aid and relief products, in line with its objective to help children grow up in a safe environment. Finally, Action started supporting FC STRAAT, the largest street football club and community for children in the Netherlands.