Penny Market’s revenues go up to EUR 675 mln in Romania

Discount retailer Penny Market, part of the German group Rewe, posted revenues of almost EUR 675 million last year, up 12.5% year-on-year. By comparison, Rewe Romania saw a turnover of EUR 600 million in 2015. In Italy, Austria, Hungary, Romania and the Czech Republic, Penny International generated revenues of EUR 4.2 billion, up 4.1% compared to the previous year. The Czech Republic recorded a turnover of EUR 1.2 billion, followed by Italy (EUR 1.1 billion), and Austria (EUR 780 million). Penny International recorded the highest revenue growth in Romania, namely 12.5%. Romania was followed by Hungary, with an advance of 6.6%, according to the German group’s report. Last week, Penny Market opened a EUR 19 million in a logistic center near Bacau. This is the first such center opened by a food retailer in Romania’s Moldova region, in the east of the country. editor@romania-insider.com