Rewe plans to double the investment behind its Penny chain in the Czech Republic.

The German retail giant will spend over CZK1bn on modernising its stores, opening new outlets and improving its distribution network, including the building of a new logistics centre.

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Rewe operates 340 Penny outlets in the Czech Republic, 12 more than a year ago. “We would like to open further ones in 2012, too, but are at present unable to say exactly how many because it depends on things such as building permits,” a spokesman said. 

In 2010, Penny’s sales in Czech Republic totalled CZK29.5 billion, the spokesman said, declining to reveal the profit/loss figure. The financial results for 2011 will be announced in June, he added.

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