UK: SPAR to invest £125M in c-store network
At SPAR’s virtual conference company executives discussed investment plans to boost their position in the British market.
British retailer SPAR wants to maintain a strong position in the market by investing £125 million ($177M) over the next 12 months, announced Louise Hoste, SPAR UK Managing Director at a virtual conference today.
The expansion of the company has continued throughout the UK with over 300 new SPAR stores.
“Last year was a year which saw accelerated growth as a result of the dedication and focus of our colleagues. Therefore we are going to support them by investing £125 million in our business in the year ahead,” said Louise Hoste.
The company will invest £100 million in stores and £25 million in improving our supply chain and IT capability – everything from depots to vans and electric bikes for home delivery.
SPAR is launching a number of data driven mission-focused developments with new formats and propositions starting with the major redevelopment at Carnon Downs in Cornwall. The 2,600sqft store is the first in the country to unveil the new SPAR UK store design concept.
The state-of-the-art next generation store will include a strong focus on provenance, with a wide range of local Cornish products across many categories.
“This is our seventh year of continuous growth and a strong platform to demonstrate how our strategy delivers sustainable growth. SPAR is the leading convenience symbol group in the UK and the only proposition for independent retailers looking for a profitable future,” added Hoste.
There are some 1,054 petrol stations over the UK & Northern Ireland in addition to street convenience stores.
