Business News


Spar's Revenue in 2009 Level at EUR 678M

Ljubljana, 02 March (STA) - Sales revenue at retailer Spar Slovenija remained level in 2009 compared to a year ago, at EUR 678m, general manager Igor Mervic said on Tuesday. The results were nevertheless above-average for the sector, he said.

Spar retained its position as the second largest retailer in Slovenia, with a market share of some 20%. In December, it employed 4,143 people.

The company spent EUR 25m on investment last year. Mervic said that this year investments activity would be moderate and aimed primarily at expanding the retail chain.

The chain had 80 stores and supermarkets around Slovenia at the end of the year and is planning to increase the number to 100. Last year, it opened one megamarket and four smaller stores.

Mervic noted that the crisis only hit the retail sector in the second half of 2009. Consumers became more cautious and spent 5% less on a purchase in average. He does note expect major changes when the crisis is over.

Mervic also pointed to growing unemployment, which could scare consumers. He believes the retail would be the first sector to feel the impact.

Last year Spar saw sales rise 10%.

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