Supermarket company Spar International’s turnover grew 4.5 % to 33.1 billion euro in its past fiscal year, excluding exchange rate fluctuations. Its continuous expansion helped achieve that growth.
Strong growth in new markets
In the past fiscal year, Spar opened its first stores in Thailand and Albania, but also expanded its store network in China and Russia, alongside new local partners. Compared to the end of 2015, it opened another 369 supermarkets and now has 12,545 stores and 7.2 million square meters of store space.
Spar’s Western European turnover growth was 4.8 % and its turnover reached 15 billion euro in the eurozone. The United Kingdom also performed well, with an 8 % turnover increase. Central and Eastern Europe grew 6.5 % and Russia did even better, with 7.7 %.
The company intends to open another 300 new stores in Thailand in the next five years, to add to its 619 Asian stores, spread across 1.2 million square meters of store space (up 65,000 compared to the year before).
Spar’s goal for 2017 is to continue its growth, both in new markets and the traditional European markets.