Local Penny Market discount stores report a 4.3 percent turnover increase in 2010

Rewe Group has announced that its local Penny discount network has registered a 4.3 percent turnover increase last year, recording “above-average development”, according to the company’s financial report. The performance reported in Romania is followed by the results in the Czech Republic (+3.8 percent).

In Germany, Penny discount stores lost 1.2 per cent in turnover due to “a highly competitive environment” and posted EUR 6.9 billion in turnover. Abroad, the discounter grew by 3.5 percent.

The retailer opened last year seven new Penny Market stores countrywide. In Romania Rewe Group operates the Billa, Penny Market and Penny Market XXL networks. Overall, the German retailer announced a turnover increase of four percent to about EUR 53 billion euros.

Simona Bazavan

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