Spar Records Losses in Hungary

Businessn.a. ♦ Published: September 13, 2012; 19:18 ♦ (Vindobona)

The Austrian retail chain operates 400 branches in Hungary. The economic crisis caused substantial losses.

Spar Records Losses in Hungary / Picture: © Spar

For Spar Group, Hungary is the most problematic region. At the moment, Spar is the number two in Austria´s Eastern neighbor and operates 400 branches. Last year, turnover came at € 1.4bn. The retail chain entered Hungary in 1990 and could expand its branch network rapidly. Spar Group opens 35 new branches per year. In Austria, the market share amounts to 29.6%. In Austria, Spar´s…