“We opened 15 stores in 2018, all of them using the Future Store format (the new format of the company i.e.) in cities like Targu Jiu, Breaza and Bucharest,” says Daniel Gross, chief executive of REWE Romania, the operator of the Penny Market stores.
REWE Romania has big plans to expand the Penny Market chain to 400 stores by 2025 and in 2019 will continue expansion by 20-25 stores using the Future Store format and start preparations for its fourth logistics center, the executive said.
Also in 2018, the company started remodeling the already existing stores, a process that began in March 2015 and was completed in November 2018, following total investments of 120 million lei (EUR26 million).
“The remodeling of the stores to Future Store format had a positive impact.”
Last year was good year, in line with the retailer’s goals. Penny Market continued the projects it began in 2017 and completed the remodeling of all stores into Future Stores and expanded the logistics capacity. The figures increased according to plan. The positive results are because of the increase in purchasing power, development and expansion, Daniel Gross added.
He did not say how high the revenue was but did say in mid last year that retailer was seeing a similar growth rate to the 2017/2016 one. Rewe Romania revenue came close to RON3 billion in 2017, following almost 5% growth. The executive says he is optimistic about 2019.(EUR1=RON4.6890)
(English version by Loredana Fratila-Cristescu)