Companies / South Africa
Spar's Expansion Spree
May 2008 | Company News AlertMass grocery retail (MGR) operator Spar has announced significant expansion plans for the South African market. According to the company, it is planning on opening 20 Spar, 20 Tops and 15 Build It stores this year, while also making a ZAR400mn (US$56mn) investment into its distribution centres. This follows the company's announcement of revenues of ZAR13bn (US$1.62bn) for the first half of its financial year, representing an increase of 21% from the same period last year. Spar had 817 stores at the end of this period, with the company gaining market share in rural areas thanks to its strong presence.
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