SPAR Hungary has reported a 15.6% year-on-year increase in retail sales to HUF 915.7 billion (€2.44 billion) in its financial year 2022.
The retailer has attributed this growth, which is double what it achieved in 2021, to initiatives implemented by it to support affordable, fast, and convenient food shopping.
SPAR claims to be one of the largest employers in Hungary, offering employment to about 14,000 people.
SPAR Hungary ended 2022 with 623 stores nationwide, investing approximately HUF 18.6 billion (€50 million) in two new stores in Budapest and the modernisation of 11 existing stores across the country.
The retailer focuses on sustainability when it comes to store development, with all its new and renovated stores reducing their environmental impact.
The stores features energy-efficient solutions, such as LED lighting, solar panels, CO2-based cooling technologies, and charging stations for electric cars.
By 2021, SPAR Hungary's greenhouse gas emissions fell 49% compared to 2017.
SPAR Hungary
In 2022, the retailer expanded its network by 14 new stores. Currently, it has 248 stores operated by independent retailers in the country.
With sales of HUF 103.1 billion, the franchise stores contributed about 10% of SPAR Hungary’s total turnover in 2022, the retailer noted.
The retailer expanded its online shop in 2022, registering over 150,000 online orders.
Own brand products accounted for one-third of its total sales, with the retailer expanding its assortment by 10% in 2022.
SPAR Hungary expanded its own brand offering by 10% in 2022, with these products accounting for one-third of its total sales.
Some of its own-brand products were available abroad in June 2022, when SPAR Slovenia started importing dry and frozen SPAR own-brand products from Hungary.
Read More: Rossmann Collaborates With SPAR Austria To Expand Business
© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
