Sales Declining at Spar Hungary

CompaniesRetail & Consumer ♦ Published: March 4, 2011; 00:05 ♦ (Vindobona)

The food trade chain records declining sales in Hungary - for the first time in its history.

Sales Declining at Spar Hungary / Picture: © Spar

Spar operates in Hungary since 1990. In 2010, Austria´s second biggest food trade chain has to report declining results. In the last year, sales amounted to € 1.41bn. Thus, the number decreased by 4.04%. What is more, Spar has to pay special taxes, which have been recently introduced by the new Hungarian government. The tax burden rose by 60%. As a result, Spar intends to layoff 700…