September 24 (SeeNews) - Germany-based food retailer REWE said on Thursday it has opened a new Penny store in the Romanian city of Medias, Sibiu county.
The new store spreads on an area of 854 sq m and employs 14 people, REWE said in a press release.
Following the new opening, REWE has 265 Penny supermarkets in Romania in which it employs over 4,800 people.
In July, REWE said that it plans to invest over 2 billion lei ($468 million/414 million euro) in its Penny store network in Romania by the end of 2025. The company also said that in the coming years it plans to open its fourth logistics centre in Romania, in Oltenia region, and modernise and streamline the network of existing stores.
Penny reported a turnover of 3.96 billion lei in the fiscal year 2019, up 15% year-on-year.
Penny entered the Romanian market in 2005 and currently over 80% of the products on its store shelves in the country are purchased from local producers and suppliers. Its network is served by three logistics centres located in Stefanestii de Jos, Turda and Bacau.
(1 euro=4.8722 lei)