Rewe Romania to cut ribbon for a new Penny Market in the Eastern city of Focsani on Nov. 28

The new store will have a 750-square meter sale surface and offer a range of 1,300 products. The company currently operates 40 Penny Market stores and five Penny Market XXL units. Rewe group's Romanian divisions posted revenues of 1.05 billion euros last year, up 34.7 percent against 2005.

Rewe Romania plans to open at least five Penny stores by the end of the year. Company's representatives announced investments of 180-200 million euros by 2011, targeting to open some 150-200 stores in Romania.

Rewe group operates in Romania through the Billa, Penny, XXL and Selgros divisions which had altogether contributed 25 percent of the total sales on the east European market. This year Rewe plans to open more than 550 stores in Europe. The group operates almost 12,000 stores in 14 countries.

Rewe Holding International, the sole associate of Rewe Romania has approved at the end of March the opening of 20 units in Romania, according to data published in the Official Gazette. Rewe Romania will spread its tentacles to other 14 counties.


Source: NewsIn