Turnover grows by 12 per cent for Spar UK as indie retailers excel during pandemic

Spar UK has reported an annual growth in sales of 11.82 per cent, with a total retail turnover of €3.7 billion (£3.2bn) for the year ending 31 December 2020.

In its annual report, Spar International said all five Spar UK wholesalers delivered excellent service to the stores throughout the pandemic, while providing considerable support to their retail members.

The group added that several independent retailers joined the Spar UK family during 2020, and over 300 new store openings and refurbishments took place during the year despite the pandemic. The symbol group currently has 2,530 stores in the UK.

Globally, the group has reported sales of €39.8 billion in 2020, representing a 7.4 per cent increase in revenue at constant currency values.

Tobias Wasmuht, chief executive of Spar International, said its response to the Covid-19 pandemic has shown “the collective strength of the Spar organisation and the critical role of independent retailing in societies and communities across the globe.”

“Last year was very much characterised by the impact of the global Covid-19 pandemic and its severe consequences, but it was also a year which saw accelerated growth as a result of the dedication and focus of our highly committed Spar colleagues across all parts of our global Spar network,” Wasmuht commented.

“Performance to date this year gives an indication of the key role Spar stores have played as critical lifelines for local communities throughout the crisis. We worked hard throughout the year to maintain the supply of products to our stores, to make sure our stores were safe and secure, whilst also scaling up our online channels and helping the wider communities we support in large scale and innovative ways.”

Wasmuht added that the group’s compound annual growth of 5.64 per cent in the period 2016-2020 has set a strong platform to build from for the future, crediting their ‘Better Together’ strategy for delivering sustainable growth.

“As we look to the future, we do so with confidence. Spar has shown great resilience during the crisis of 2020 and has prospered and grown. With accelerated developments in retail and across our supply chain, we are well placed to build on this strong foundation,” he said.