After identifying own label, value and home delivery as key
growth areas, Spar UK has decided to
invest £125m in store expansion.
This news was announced at the online conference ‘Winning Together’ during which the
firm’s strategy and operations director Lee Johnson gave a speech. He advanced
that retail and wholesale sales throughout the month of March increased by 8.5%
and 9.8% respectively in comparison to the same period in 2019. Moreover, the
convenience chain also saw a 37% growth in average basket spend even if there
was a 15.6% decrease in footfall.
He said that the firm has had 300 new store openings
and refits over the year and that it is going to invest £125m during the year
ahead in new builds, refits and improvements to refrigeration. £25m of the
money will be dedicated to improving the supply chain, IT capability,
distribution, and bikes and vans for home delivery.
Additionally, Spar UK head of brand Jamie Seymour said that the company’s aim is to increase the number of pence spent per £1 on own label from 24p to 35p in the next five years. To do this, it will add more than 300 own-label lines to each store along with ensuring that the brand is more inclusive.
Spar UK is disbursing money to improve its stores ©
Royalty-free image
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