Penny's Opens its 230th Store in Hungary

The retail store chain Penny opened its 230th Hungarian store in Budapest, in the X. district, the company informed MTI on Thursday.

The store, with almost 400 square meters of retail space, will employ 15 new workers. The store is located at one of the busiest junctions in the district.

In a statement, the chain stressed the importance of continuous expansion.

Penny Market Ltd. has been operating in Hungary since 1996, currently has 230 stores, three logistics centers and employs almost 5,000 people.

According to public company data, the company achieved net sales of HUF 404.6 billion in 2022, up from HUF 321.5 billion a year earlier. Last year, it closed with a loss of HUF 155.3 million, following a profit after tax of HUF 4.37 billion in 2021.