Discount retail is the first to report growth in sales for 2009,the first year when the major store chains experienced a drop inconsumption. The biggest operator of discount stores, Penny Market,reached 1.7 billion RON (400 million-euro turnover) last year, up23% compared with the decline posted in 2008. The advance in eurosstood at 7%.
"Sales saw a significant increase in the stores opened in 2007and 2008, as well, while those stores opened even earlier posted5.3% business growth in 2009, compared with the previous period,"said Marcel Thiele, CEO of Penny Market, which comprises 100stores. Penny Market is held by German group Rewe, the secondleading player in the Romanian trade. Carrefour, the third leadingretailer in Romania posted 4.6% decline in sales in euros and about9% increase in sales in RON in 2009, while continuing to makeinvestments in expansion.
The discount retail might be the only market segment in thelocal trade sector to have posted organic growth in 2009, the firstyear when the major chains saw decline in consumption inRomania.
The other discounters operating on a market that ZF put at onebillion euros, Plus, Profi and Minimax expected sales growth lastyear, as well, but Penny Market is the first to announce 2009results.
The business of the retailer went up by 7% if calculated ineuros last year, a pace calculated in line with the averageexchange rate announced by the NBR.
"Last year we posted gross sales of 1,699 million RON comparedwith the 1,376 million RON value in 2008. Part of the growth wasbecause of the expansion of the network, but one quarter of thestore openings of 2009 were done in December, and thus did notcontribute much to the turnover," Marcel Thiele said.
The French at Carrefour were the first food retail chain toannounce 2009 financials last week. Carrefour saw its business ineuros go down by 4.6% in 2009 compared with 2008, after havingopened two hypermarkets and six supermarkets last year, for a totalof 47 stores. In comparable terms (i.e. without taking into accountthe effects of the network expansion in 2009) the sales fell by 9%,according to the data released by the French group.
