European Supermarket Magazine reports that Penny România closed 2023 with revenue exceeding 8.32 billion lei (716 million euros), marking a 16% increase year-on-year and setting a new record for the company.

Consistent Growth

This marks the ninth consecutive year Penny România has reported the highest revenue growth among the food retail companies within Germany's REWE Group. The company also reported a net profit of 224 million lei (19 million euros) in 2023, a 47% increase from the previous year.

Significant Investments

Penny România heavily invested in growth, allocating over 634 million lei (130 million euros) for expanding and modernizing its store network and logistics infrastructure, including the expansion of the Bacău logistics center. Throughout 2023, Penny prioritized optimizing the shopping experience and remodeling stores for improved efficiency and customer satisfaction.

Store Enhancements Key changes include:

• Easier access to frequently purchased items like salads and ready-to-eat meals.
• Improved layout for the fruit and vegetable section.
• Designated areas for products for seniors, children, and pets.
• Better placement of items in categories like spices and ice cream.
• Reorganization of "impulse buy" items to boost sales.

Environmental Responsibility

Penny stores are now equipped with CO2 refrigeration systems and electric vehicle charging stations, reflecting the retailer's commitment to environmental responsibility.

Expanded Delivery Services

In 2023, Penny expanded its home delivery offerings through partnerships with Glovo and Bringo. In March this year, they introduced a new partnership with Tazz, providing customers with even more delivery options.

Network Expansion 

Penny România is now present in 60 cities across Romania and currently delivers from 187 stores. Last year, Penny opened 40 new stores, setting a new record, bringing its total network to 378 stores served by four logistics centers.

2024 Outlook

• Revenue Growth: The company aims for double-digit revenue growth in 2024.
• New Stores: Plans to open 35-40 new stores this year and build a new logistics center near Bucharest.
• Technological Advancements: A new "autonomous" store will open in Bucharest on May 29, featuring the latest in retail digital technology.
• Investment Plans: Penny România has allocated an investment budget of 150 million euros for 2024, 22 million euros more than last year. Cumulatively, the retailer plans to invest 1 billion euros in Romania by 2030. (Photo: Penny)