Germany's Penny Donates €1.35m To Flood Victims
German discount retailer Penny has donated €1.35 million for communities affected by the recent flooding in the country, through a fundraising project.
The discounter called on its customers to donate from 21 July to 31 July. Penny then tripled the respective sum, with the total value raised coming in at €1.35 million.
DRK Flood Aid
The funds raised by the retailer's customers will be forwarded to the DRK flood aid initiative.
Stefan Magel, divisional director of retail Germany, REWE Group and COO Penny, said, "I would like to thank all customers who have given a strong sign of solidarity and sympathy with their donations. I am overwhelmed and proud at the same time.
"For us, as a company that presents itself as a good neighbour, it was a matter of course to get involved quickly and unbureaucratically, which is why we have tripled the amount donated."
Areas badly affected by the floods include North Rhine-Westphalia, Rhineland-Palatinate, Bavaria, and Saxony.
Other retailers to join Penny in raising money for the flood victims include the Schwarz Group.
The Lidl and Kaufland owner announced a donation of €10 million in 'immediate support' to areas of Germany affected by the floods.
Elsewhere, skincare giant Beiersdorf also donated to various relief funds. The donation will go to the German Red Cross (DRK) and the respective national societies of the Red Cross in Benelux, and the German Life Saving Association (DLRG), which have been involved in the crisis regions.
The discounter's parent company REWE Group posted 20.4% year-on-year growth in adjusted turnover to €75.3 billion in its full financial year 2020, driven by the successful integration of the Lekkerland Group.