ROMANIA: Rewe remodelled 30 Penny Market units in the last four months | Progresiv

The German group Rewe completed the remodeling of 30 Penny Market units in the "Future Store Concept" format between April and July, 12 of which were reopened last month. According to the company, 82 stores have been remodeled so far and the process will continue this month with seven new remodels.

"Every remodeled store brings a series of novelites and surprises to Penny Market customers. The emphasis is on modern and stylish design, their shopping experience being improved due to the reorganization of product categories and carefully selected articles every day", according to the company's press release.

This year, the retailer focused its attention on remodeling stores. Since the beginning of the year, the company has remodeled 32 locations and has just opened 4 retail outlets. According to the announcement made by Rewe representatives, the company plans to inaugurate 20-25 locations by the end of 2017.

At present, the Rewe Group has 203 Penny Market stores nationwide. In addition, 6 of the XXL Mega Discount stores - a brand that Rewe Romania has recently dropped - will be turned into Penny Market later this year. This is not the only brand the retailer dropped over time. The first brand that Selgros renounced was Selgros, which was sold it in an international deal, and in December 2015 it sold the Billa supermarket chain to Carrefour, in an estimated transaction of 97 million euros.

Rewe Group ended the financial year 2016 with business of 2.86 billion lei, up by 7.8% over the previous year and reported a net profit of 23.75 million lei, up by about 85%.