Penny Market Romania, the largest growth within the group: 12.5% in 2016 | Progresiv
German discounter Penny Market reported in Romania, in 2016, the largest increase in revenues within Rewe group. According to the financial report released by Rewe Group, the increase percentage in turnover of Penny Market Romania last year was 12.5% compared to 2015 - when the retailer's turnover was 600 million euros. 
Overall, the international discount division of Rewe Group, which operates in Italy, Austria, Hungary, Romania and the Czech Republic, reported in 2016 revenues of 4.2 billion euros, up by 4.1% over 2015.
Revenue growth in Romania is also confirmed by Daniel Gross, General Director of Rewe Romania - present at the inauguration of the first logistics center of the chian, in Bacau, after an investment of 19 million euros. "In 2016 we had a very good year. We are growing both in terms of revenue and profit, and we have the best results in the group within the discount division. 2017 also started well and I think it will be a better one than 2016", said Daniel Gross for Progresiv.
About the 19 million euros investment in Bacau, directed towards construction of a modern logistics center, Rewe Romania manager says it will be written off in about three years. "The investment in the Bacau warehouse has two sources. Approximately 70% are money from the group and the rest is financed from current local activity. The Bacau center is the third warehouse that Penny has in Romania, after the Turda and Stefanestii de Jos. The next step would be opening a warehouse in south-western Romania, in 2019. We do not know where it will be located, but we consider places like Hunedoara, Caras-Severin and Mehedinti", says Daniel Gross. The new logistics center in Bacau will ensure the distribution of products in about 45 Penny Market stores (in Moldova area and in counties like Harghita and Covasna) initially, extendable to 90-100 stores.
Penny Market is the discount concept of the German Rewe Group and one of the most active retailers in Romania, its first store being opened on the local market in 2005. Currently, the Rewe Romania group owns 200 Penny Market stores nationwide. In addition, six of the XXL Mega Discount stores – a banner that Rewe Romania dropped recently - will be transformed into Penny Market during 2017.
