Spar Ireland Delivers Growth Despite 'Deflationary Trading Environment'
Spar Ireland has continued to deliver solid euro-denominated growth despite a deflationary trading environment, according to the groups interim results for the six months ended 31 March 2017.
The BWG Group announced that it has again performed ahead of budget for the six months and reported euro-denominated growth of 1.6%.
The grocery retailer said that it benefitted from the positive contribution of recent acquisitions, including the Londis brand and Gilletts stores.
However, it outlined that the business experienced a 'significant slow-down' in the second quarter growth across all customer categories, which it attributed to 'new deflation trends.'
It said that the latest measures indicate that food and non-alcoholic drinks declined 2.6%, while alcohol dropped 5.2%.
It highlighted that it's XL brand which is soon to celebrate 20 years in operation, delivered strong growth.
The grocery retailer has increased its store network in Ireland, bringing its total store network to 1,335 stores.
© 2017 - Checkout Magazine by Donna Ahern