Penny Market network increases turnover in 2012, parent company Rewe plans further expansion in Romania

The Penny Market discount shop network, owned by Rewe Romania, recorded a turnover of some EUR 450 million (RON 2 billion) in 2012, a year-on-year increase of around 10 percent, according to the company. In the period 2013-2014, the company plans to open 20 new Penny Market stores each year, with a total investment for development of EUR 100 million. The amount will mainly be used for the new stores opened, but an important percentage will be spent for improving the current network. Rewe Romania currently owns 137 Penny Market stores and 7 XXL Mega Discount units. Rewe Romania is part of the German Rewe Group. Currently present in 13 European countries, the group recorded a turnover of EUR 49.7 billion in 2012. Rewe Group has some 300,000 employees in over 15,000 stores. In Romania, Rewe owns Penny Market, XXL Mega Discount and Billa stores. Irina Popescu, irina.popescu@romania-insider.com (photo source: the company)