Spar sales hit €865m in 2003

Retail group Spar saw sales of €865m for the year ending 2003, an increase of 13% on the previous year.

The results follow parent company BWG Group's reported turnover in 2003 of €1.8bn and operating profit of €37.8m for the year.

Spar expanded its Irish outlets by 35 to 405 - leaving the company on target to deliver on its expansion strategy announced last year.

The company also announced that it plans to open an additional 34 new stores, as well as the refurbishment of 30 of its existing stores during 2004.

Up to 600 new jobs will be created, the company claimed today.

Commenting on the results, Conor Whelan, Managing Director of Spar Ireland, said: "Last year when we announced details of the Spar strategy we set ambitious targets for the group over a three-year period both in terms of retail sales and store expansion.

"The strategy anticipated growing the number of stores to 500 by the end of 2006 and growing retail sales in excess of €1bn.

"One year into the strategy we are already ahead of our targets," Whelan added.

Whelan attributed the successful strategy to the expansion of the number of retail outlets, the development of the Spar offering and the continuing popularity of convenience shopping amongst Irish consumers.

It is estimated that 400,000 customers visit a Spar store in Ireland every day.

Lifestyle changes were also having a big effect with consumers becoming "cash-rich and time-poor".

A recent survey said that 43% of respondents regard cooking and preparation of a meal as a chore.

More than 63% of Irish people now shop more than once a week, with 12% shopping every day and this number is steadily increasing.

Ireland now has an above-European-Union average participation in the workforce by women and the size of Irish families is reducing.

Spar Ireland is owned and operated by BWG Foods Limited which is part of the BWG Group Limited, an Irish and UK wholesale distribution business, providing goods and services to the retail grocery trade, licensed and catering outlets.