SPAR International Jolly Green Giant
It often escapes our notice, but SPAR South Africa is perhaps our most international retailer – part of a vast global network, and with its own holdings in the UK and Ireland, in Poland and in Switzerland. So fitting, then, that we check in with the SPAR International business to see how things are ticking over – we’ll have a look at the local business next week with the announcement of its half year results. But back to the umbrella business, and as it happened, SPAR International released its results a couple weeks back, revealing, inter alia, that it had broken that critical €40bn barrier for the first time, with revenue up +3.3% to €41.2bn for the year through December 2021, and is was trading out of 13,623 SPAR branded stores across 48 markets in five regions globally. Not bad for a spry 90-year-old, which milestone SPAR celebrates this year. It’s also celebrating the launch of its first stores in South America, having recently signed a partnership agreement with a family-owned outfit Los Jardines in Paraguay. It’s also extending its reach in Europe this year, launching in Latvia, and establishing SPAR Central Asia with the opening of stores in Kazakhstan.
Comment: A nimble yet robust model, much like our late grandmother’s Ford Escort which we were privileged to drive for some years in the late 1980s.