Business is good for the German supermarket chain Rewe. Last year the trading concern reached a record turnover. Chairman of the board Alain Caparros applauds the turnover achieved of 40 billion Euro, an increase of 3.5% compared to 2010.
However, the joy about the achieved result is not entirely free of worry. Caparros mentioned a decrease in operating profit as a result of special circumstances: precautionary measures taken amongst others for the renovation of daughter company Penny, had an important influence on the 2011 annual accounts, as per the Frenchman. However, no figures were mentioned by him.
The Rewe concern want to lift Penny out of the red figures by closing unprofitable branches and by applying a new concept. Up till the end of 2014 more than 600 shops in Germany will be renovated. The renovated Penny branches will have well-arranged aisles, a fruit and vegetable department with lower racks and a fresh-counter with salads and sandwiches.