European discount chain Action reports 30% jump in sales

AMSTERDAM (Reuters) - Sales at European discount retailer Action jumped by 30% to 8.9 billion euros ($9.69 billion) last year, buoyed by increasingly price-conscious shoppers grappling with high inflation and energy bills.

Action, which is owned by British private equity firm 3i and operates in 10 countries, opened 280 new stores last year to take its total to 2,200.

"Customers are looking more at prices because their purchasing power is under pressure. So we're seeing more customers and more transactions, and they are coming to us more often," a company spokesperson said.

Action sells name-brand toothpastes, shampoos and detergents at reduced prices, along with cheap imported household goods.

($1 = 0.9184 euros)

(Reporting by Toby Sterling; Editing by David Goodman)