Spar International Posts Retail Sales Of €33.1 Billion For 2016
Retail group Spar International has posted sales of €33.1 billion for 2016, with growth driven by its global expansion programme.
These figures represent an increase in retail sales of 4.5% on a constant-currency basis.
“In what was a record year for Spar, the blend of like-for-like organic growth, successful acquisitions and strategic new-country expansion, resulted in the brand growing at its fastest rate in ten years," said Tobias Wasmuht, managing director of Spar International.
Spar is now operating in 44 countries worldwide, with 12,545 stores employing 350,000 people, but it is continuing its international expansion.
"Since our foundation 85 years ago, our purpose has been to grow our brand, our presence and our partners by enhancing the competitiveness, productivity and profitability of our retail and wholesale partners worldwide," said Wasmuht.
"As the retail landscape becomes ever more competitive, the Spar brand continues to be the number-one partner of choice for leading-edge independent retailers across an increasing number of global geographies.”
The retailer recorded strong growth in Spar's Western European markets, with sales in its nine Eurozone countries increasing to €15 billion. Retail sales in Eastern Europe grew by 6.5%, and in Russia by 7.7%.
There was also sustained growth in Africa and the Middle East, where Spar now has a presence in 15 markets.
The retailer has been engaging in a wide expansion project in Asia, especially in the Chinese market. Spar is scheduled to open stores in Mongolia and Sri Lanka in 2017, and it will also see over 300 new stores open in Thailand over the next five years.
“Underlying trends in the 2016 Spar results point to an ongoing strong revival in neighbourhood – or proximity – retailing, with investment in the modernisation of neighbourhood stores and the resurgence of new urban/city stores – key factors in delivering above-average growth in many of our traditional European markets,” added Wasmuht.
“Our 2017 growth pipeline in both new and traditional markets is very encouraging. The combination of the local ownership and knowledge of our partners, coupled with the global expertise and insights of Spar International, means our retailers are well positioned to succeed, despite prevailing economic and political uncertainty in many of our markets.”
Spar plans to continue investing in stores and its online retail platform this year.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.