Rewe To Spend EUR40mn On Supermarket Expansions

Germany's Rewe Group has announced that it will invest EUR40mn in new store launches and refurbishments in Slovakia in 2009, building seven supermarkets and refurbishing a further 10. The move is part of Rewe's plans to launch about 140 new stores across Central and Eastern Europe (CEE) in 2009 in a bid to decrease its reliance on the mature Western Europe region. The Slovak expansion will be carried out by Rewe's Billa supermarket arm, which counts on Slovakia as its second largest market behind the Czech Republic. Billa, Slovakia's largest out-and-out supermarket chain, recently reported a 20.9% year-on-year (y-o-y) increase

To read the full article, please choose one of the following options: