By the mid part of the decade, the retailer is also hoping to achieve a turnover of €2 billion, and operate around 500 stores.
The target was revealed by Nicola Pierdomenico, CEO of Penny Italia, in an interview for daily Il Sole 24 Ore.
According to Pierdomenico, the banner achieved 2022 revenues of €1.5 billion, up +9.1% on 2021. Its market share in the discount segment currently stands at 6%.
Plans for 2023 include a €47 million investment in the opening of around 20 shops and the renovation of about 400 stores, and the possibility of new acquisitions.
New Logistics Facility
The 23,000 square metre distribution centre was built on an area of 86,000 square metres and has an additional building capacity of 10,000 square metres.
The new structure, which will increase the stock capacity and make operations more efficient, will replace the Altopascio depot, which supplied about 60 stores.
In line with the retailer’s green logistics policy, the logistics hub is energy-efficient and entirely sustainable, resulting from the use of low environmental impact technologies.
The photovoltaic system, with a capacity of 400 kWh for self-consumption, has been developed to meet about 35% of the processes' needs, heat pumps replace gas boilers, while natural refrigerants such as ammonia and Co2 are used for the refrigeration systems.
Thermal heat produced by the heating and hot water systems is recovered, as is the water from groundwater wells for fire-fighting and irrigation systems. In addition, more than 200 trees were planted and about 20,000 square metres of areas were landscaped.