August 31st, 2010

Spar to spend Ft 6 billion on renovation and remodeling Plus stores

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Spar Magyarorszag Kereskedelmi Kft., part of the international Spar group, will spend HUF 6bn this year on the renovation of its stores and remodeling the former Plus stores it acquired from Tengelman in 2008, the company told MTI.

Spar Magyarorszag will also open a new 937-square-metre Spar supermarket in Kazincbarcika (NE Hungary) this year, creating 26 new jobs.

Spar plans to remodel 70 former Plus units this year of the 174 stores it acquired in 2008. It already changed the image of all the newly acquired units last year at a cost of HUF 2bn.

Spar Magyarorszag generated revenue of HUF 397.3bn in 2009, up 6.2pc yr/yr.

The acquisition of the Plus stores raised the number of Spar’s units in Hungary to above 390, its market share from 10pc to 14pc and boosted its consolidated turnover by 31.5pc to HUF 374.2bn in 2008.

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