Penny Market reaches almost EUR 600 mln in sales in Romania

Local discount supermarket chain Penny Market posted a turnover of almost EUR 600 million in the 2015 fiscal year, up by 14% year-on-year. The business in Romania contributes by almost 15% to the turnover of Penny International, which is active in Austria, Hungary, the Czech Republic, Italy and Romania, reports local Ziarul Financiar. The group had a turnover of EUR 4.1 billion in the 2015 fiscal year, up 4.2% year-on-year. The retailer is part of the German group Rewe. This includes the discount divisions Penny Market and XXL Mega Discount, as well as the supermarkets under the Billa brand. The group sold the Billa supermarkets in Romania to French group Carrefour at the end of last year for almost EUR 100 million. The German group currently operates in Romania through the Penny Market and XXL Mega Discount divisions. In total, it owns 183 stores in the local market. editor@romania-insider.com