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Selgros Cash&Carry Opens EUR38M Store In Bucharest

Selgros Cash&Carry, a unit of Germany's retailer Rewe, will open Tuesday its 18th store in Romania and the fourth in the capital city Bucharest, following EUR38 million investments.
Selgros Cash&Carry Opens EUR38M Store In Bucharest
31 aug. 2009, 15:27, English

According to Selgros representatives, the new store will be opened in partnership with Romanian construction materials retailer Dedeman.

The company maintains its plan to open 21 more stores in the big Romanian cities in the following years, but it depends on the price of lands and the time it gets the building permits.

Edith Lenga-Balk, country manager for Romania, said the company would not open another store this year, but would open at least one store next year.

This year, Selgros was affected by consumption fall in Romania, which was more pregnant on the non-food ssegment.

As for 2009 sales, the company’s representatives stated that an evolution would be difficult to forecast, given that the last four months of the year represent over 50% of the total turnover.

In 2008, Selgros Cash&Carry reported a turnover of 3.16 billion lei (EUR1=RON4.2231), up 15% from RON2.74 billion in 2007.