Penny strengthened further last year, and the expansion doesn’t stop

– What was the most important event in the company’s life last year?

Eszter Kazatsay
head of corporate communications
Penny

– PENNY reached another important milestone last year, as construction works in the logistics centre in Karcag were completed, where storage capacity has doubled thanks to the HUF 7bn investment. Another success story was the rebranding and store modernisation programme that we had begun at the end of 2020. In total we invested HUF 50bn in this. PENNY’s product selection is being updated, as we have enlisted more than 400 new items and replaced another 600. Plus we have modernised our private label products (the Salty and Sissy ranges) too.

– What was last year like in numbers, and how satisfied are you with PENNY’s performance?

– For years we have been working hard to increase the proportion of Hungarian products available in PENNY stores. Sissy dairy products and “Kedvenc Hentese” fresh meats are now 100% Hungarian, which is also attested by the Hungarian Product trademark on the items. At the end of last year already 110 stores were saving food in partnership with the Hungarian Food Bank Association – in the value of HUF 104m already in the first six months. Before Christmas PENNY customers left 31 tonnes of donations at the in-store collection points of the Hungarian Red Cross. We gave HUF 25m to the Together for Children with Cancer Foundation. PENNY also helps local communities, with programmes and product donations for crèches, kindergartens and schools.

– How is 2023 going so far and what are your expectations for the rest of the year?

– Due to the recent economic challenges and rising prices, consumer baskets have changed quite a lot in the last six months.

Shoppers are now buying more private label and low-price products, and they would also like to see more promotions. Our private label selection has grown and we are very proud of our free-from foods. In 2023 the PENNY store network continues its expansion: recently the 229th PENNY store has opened in Kispest.

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