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Spar revenues up 5.2% in 2016

Retail

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Supermarket chain Spar Magyarország posted HUF 516 billion revenues last year, up 5.2% compared to 2015, Managing Director Gabriella Heiszler said on Wednesday, as reported by Hungarian news agency MTI.

Spar said it expects its revenues to continue to rise this year, but it will only make a prediction about revenues at the end of April because the classification of Good Friday as a working holiday could affect sales.

The company spent HUF 20 billion on investment last year, refurbishing 24 stores and opening four new ones. This year Spar plans to spend HUF 23 bln on again refurbishing 24 stores and expanding its network by five stores.

Spar operates 493 stores in Hungary, 116 run by franchise partners. The company has around 13,000 employees.

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