South Africa's SPAR posts higher sales

Spar

21/02/2024 07:31

Feb 21 (Reuters) - South African grocery retailer and
wholesaler SPAR  SPPJ.J  said on Wednesday its turnover rose by
9.3% in the 20 week-period to Feb. 16, helped by the strength of
foreign currency against the rand, although growth was impacted
by cost-of-living pressures.
    The group said turnover in its Switzerland and Poland
businesses declined during the period as consumers seeking value
moved to shopping from supermarkets or discounters. 
    SPAR, which announced plans to sell its Poland unit, said
significant progress had been made in the process, and added
that negotiations were still in early stages. 
         

 (Reporting by Eva Mathews in Bengaluru; Editing by Janane
Venkatraman
)
 ((Eva.Mathews@thomsonreuters.com;))