SPAR Group exits Western Europe – but continues to expand in Hungary

SPAR’s new strategic direction is to strengthen its premium Gourmet store format: 4-5 new units may open in the next financial year, and within five years they are targeting a network of around 100 stores, of which 30-50 new stores may be realized in the medium term. The company is planning to expand in several product areas, including pet care, beverages, and building materials.

Group-level results are mixed: in the fiscal year ended in September, diluted basic earnings per share decreased by 9%, while revenue increased by 1.6% to $7.82 billion. The second half brought a 3.5% increase in turnover, primarily due to stronger food and beverage sales.

SPAR remains in Hungary and develops

The domestic subsidiary continues to carry out intensive network modernization. SPAR Hungary modernized the INTERSPAR hypermarket located in the Allee shopping center with an investment of 2.6 billion forints, which reopened on November 27. The transformation:

• 3800 m² of sales space

• 10 self-service and 12 traditional cash registers

• digital price displays

• renovated shelving and expanded selection

brought to the store.

The company’s goal is to “make everyday shopping an experience” and to increase its domestic market position in the long term.