Spar: July unrest cost over R630million

Johannesburg – Spar said the July unrest cost the retail giant over R630-million.

The retailer also lost over a third of its liquor trading days due to Covid-19 bans.

Despite this, the group still managed to report an increase in turnover. It said the losses due to riots and looting were largely covered by insurance.

The company said it managed to reopen 131 put of 184 affected stores by September.

TOPS at Spar had overturned growth of 11.2%, but that’s down by 6.4% from last year.

Be the first to comment

Leave a Reply

Your email address will not be published.


*


4 × 4 =