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Growth for Rewe

This article was originally published in Foodnews

STRONG growth in its domestic market helped drive sales for German retail chain Rewe. The group saw turnover rise 4% to EUR53 billion (USD74 billion) last year (based on figures not yet certified), boosted by 4% growth in Germany which was stronger than abroad where sales edged up 2.2% during the year. The company's Penny discount chain did not meet expectations and sales were flat for the year, hurt by a 1.2% decline in domestic sales (to EUR6.9 billion), due to a "highly competitive environment", and despite 3.5% growth abroad. Rewe will present its full-year results for 2010 on 24 May 2011.

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