A Spar supermarket in Rossrüti, Switzerland. Picture: SUPPLIED
Retail group Spar said on Friday support from Swiss customers saw its turnover in that country jump amid the Covid-19 pandemic. In a trading update for the 48 week period ending August 28 the group said its business in Switzerland had “exceptional” turnover growth of 11.4% in Swiss franc currency terms year on year, and 31.1% in rand terms. The group said Swiss consumers had supported local retailers during the pandemic.
Group sales during the period rose 12.4% to R112.04bn during the period, with turnover in Southern Africa rising 4.8%, under pressure from the prohibition on cigarette and liquor sales. Spar’s Swiss business had contributed about 10% of group turnover in its year to end-September 2019, while Southern Africa contributed about three quarters.
Source: News Formal (newsformal.com)
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