Spar Still Expansion Hungry, Despite Economic Slowdown

Spar Magyarország, the Hungarian subsidiary of Austrian retailer Spar, has said that it plans on moving forward with expansions across the country, even in the face of Hungary's economic slowdown. According to Managing Director Peter Feiner, the company plans on opening between 10 and 51 new stores in 2009, mirroring the rate of expansion in 2008. Spar has been expanding rapidly in the Hungarian mass grocery retail (MGR) sector, having earlier this year acquired the Plus discount chain from Germany's Tengelmann. Spar currently operates 388 stores in Hungary, and having achieved a turnover of HUF285bn (US$1.34bn) the company is clearly

To read the full article, please choose one of the following options: