Rewe Group makes long-term investment plan for Penny Romania
Germany’s Rewe Group plans to invest EUR80 million into growing its Penny Market discount banner this year and will double the annual average investment by 2025. Penny currently operates 223 supermarkets and three logistics centers in Romania. According to Romania general manager Daniel Gross, the 2025 target is 400 stores and four DCs. Turnover in 2017 was ROL3 billion (USD3.5 billion), a 17% uptick on the previous year. For this year, the retailer expects a 12-13% increase in sales.