Penneys to invest €40m to expand presence in Portugal

Four new stores creating 500 jobs

The company now operates across 17 different markets.

Fashion retailer Penneys has announced a €40m investment to expand its presence in Portugal.

The retailer, which operates as Primark outside Ireland, will open four new stores, adding 500 jobs. It brings to 14 the number of stores it operates in Portugal having first established an outlet there in 2009. The company said the expansion increases its selling space in the country by 30%.