Plus store chain starts earning profit in Romania

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Plus store chain belonging to the German Tengelmann Group started earning profit in 2008 for the first time since it entered the Romanian market in 2005, reads the Group’s report quoted by the Ziarul financiar daily.

Plus retailer’s gross sales amounted to 227 million euros, with 71 operational stores, by 18 more than it held in end-2007. The Company reported a turnover worth 644 million lei (193 million euros) in 2007.

The increase in the Plus brand’s fame on the Romanian market allowed the local network to score a 9 percent advance in the sales per store, last year, which was more than expected, Tengelmann report reads on.

Plus is the second biggest food retailer, after Penny Market, a network that reported sales worth 312 million euros in 2008. Other competitors on this market segment are Profi and MiniMax.

Another strong player on the European market, Lidl, belonging to the German Schwartz Group is currently preparing its entrance in Romania where it might open its first stores next year.

Plus plans to inaugurate about 23 units in Romania, this year, through investments totaling 36 million euros and it has in view towns and cities numbering over 15,000 inhabitants. In the long run, Plus retailer plans to develop up to 150 spaces, by 2012.

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