Ahold can buy Czech Spar stores | RetailDetail

Ahold can buy Czech Spar stores

Ahold can buy Czech Spar stores

The Czech Office of Fair Trading has given Ahold permission to buy the local Spar stores, but it will have to sell several stores first.

Country's largest

Ahold intends to buy the 50 Czech Spar stores for 5.25 billion Czech krona (191 million euro) and has received preliminary permission to do so as final approval will only be granted in the second half of 2014.

 

Ahold currently operates in the Czech Republic as its Albert brand and will have 330 stores if the 50 Spar stores are included, which would make it the country's largest supermarket chain.

 

Ahold has been active in the Czech Republic since 1991 and has gradually improved its performance these past few years. The 50 Czech Spar stores managed a 440 million turnover last year, but were still onerous. Nevertheless, Ahold is convinced it can make them profitable within 2 years.

Questions or comments? Please feel free to contact the editors


Komono wants to reach 10 physical stores this year

17/05/2018

Belgian accessory label Komono wants to double its number of physical stores to ten this year. “The stores are important to tell our story”, Anton Janssens and Raf Maes told De Standaard.

Hema has to pay Levi's millions

17/05/2018

Store chain Hema needs to pay a 4.4 million euro fine to jeans brand Levi’s after the latter went to court because Hema applied its V-shaped stitching to its own collection.

Suitsupply suffers losses because of expansion

15/05/2018

Dutch Suitsupply has experienced a decent turnover growth last year, but its net result tumbled below zero because of its huge investments. Nevertheless, that is the only way forward according to its founder, whose focus is still fixed on the United States.

Starting this Friday, Belgium has its own national e-commerce event

15/05/2018

Move over, Black Friday! This week, Belgium launches its own national e-commerce event as Jack & Jones, Kiabi, La Redoute, Sarenza, Tape à l'Oeil and Veritas organise the first Belgian Friday.

H&M is turning to algorithms to boost sales again

14/05/2018

In an effort to reverse the decline in its worldwide sales, H&M is using technology that will help the world’s largest clothing brand stock its stores more efficiently, sell more effectively and adapt more quickly to current consumer trends.

Zalando's profit wiped away in first quarter

08/05/2018

German online retailer Zalando saw its first quarter profit completely wiped away: last year's 5.1 million euro net profit turned into a 15 million euro loss. Turnover grew 22 %, investments being the cause for both.