Puuilo expands its store network with a new store in Tornio, Finland

PUUILO PLC, INVESTOR NEWS, 8 December 2021 at 09:00 AM EET

Puuilo’s target is to continue strengthening its position as one of the leading discount retailers in Finland by utilising its key strengths: an attractive and wide product assortment, low prices and a convenient shopping experience.

Puuilo is now expanding its store network by opening a new store in Tornio. Tornio is a city in Lapland and a cross-border twin city together with Haparanda on the Swedish side. The store will be the 37th Puuilo in Finland. Construction work on the new store will begin in spring 2022. The store will employ about 15 people. Puuilo currently has a total of 34 stores. In addition to the planned Tornio store, the company will be opening two new stores in Lieto and Sastamala at the end of next year.

Due to its location, Juha Saarela, CEO, Puuilo, considers Tornio to be a good addition to Puuilo's store network. According to Saarela, Tornio will be a commercially interesting area for the company in the future.

Says Saarela, “We have been looking for a store location in this area for some time. Sea Lapland, the most southwest area of Finnish Lapland, consisting of the cities of Kemi and Tornio in Finland and Haparanda in Sweden, is a very interesting economic area for us and has a lot of potential. Currently, the nearest Puuilo can be found relatively far from the area, in Oulu and Rovaniemi. There is a demand for an affordable and diverse selection of products and our new store will bring more choice to the areas customers."

The current store network is young and more than half of the stores were opened during 2016-2021. The new store projects are in line with the company's strategic goals, and Puuilo's efficient and standardised store opening process enables the opening of several stores every year. In recent years, Puuilo has opened an average of 3-4 new stores a year, which is also the goal for the coming years.

 

More information:

Juha Saarela, CEO

Phone. +358 50 409 7641

E-mail: ir (@) puuilo.fi