South Africa’s second-biggest supermarket retailer, Spar Group, reported an 8.8% increase in turnover for the 24 weeks ended 15 March 2024. In a voluntary trading update issued on Tuesday, the retailer said there was strong sales growth in the South African market, where retail sales jumped 7.1%. Its Build It division showed growth of 1.1%, while TOPS and the pharmacy business achieved sales growth of 12.8% and 17.7%, respectively.
Spar’s operations in Europe, however, faced challenges: ADVERTISEMENT CONTINUE READING BELOW The group believes it will continue to face headwinds in all the markets it is currently operational. Spar Group CEO Angelo Swartz said the retailer’s home market, South Africa, remains the heart of its business and is a key focus area.
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