“After a 2020 full of challenges, which put us all to the test, we expect a more difficult 2021, economy-wise. I think the effects of the pandemic will be stronger this year, but we rely on the competitiveness of our stores in terms of prices and offers,” the executive says.
The German-held retailer has 280 discount stores in Romania and plans to overshoot the 300-store mark by yearend. Penny will also continue remodeling existing stores and inaugurate its fourth warehouse in the country in 2021. The investment budget of the retailer for each of the next few years will be RON330 million.
(English version by Loredana Fratila-Cristescu)