Retail giant Spar has emerged as one of the more resilient retailers in the current tough environment.
The retailer says there’s been a 12-and-a half percent increase in group sales for the year to end-August. That’s thanks in part to a strong performance of its Swiss stores.
In Southern Africa, sales grew by less than 5 percent, with alcohol sales down by more than 16 percent.
Turnover only grew by 1 percent during the lockdown.
Spar’s Switzerland operations saw revenue climb at an impressive 11 percent.
The retailer has also flagged price increases in a range of grocery and perishable items.
In other news – Prophet Shepherd Bushiri facing r@pe charges again
Prophet Shepherd Bushiri facing r@pe charges again. Police have confirmed they’re investigating the multi-millionaire leader of the Enlightened Christian Gathering church for the alleged r@pe of two women. Learn more