Spar Retail plans to expand chain, boost revenue to 25 bln rubles in 3 years
MOSCOW. Dec 17 (Interfax) - Spar Retail, which operates the Spar stores in Moscow region, plans to double its number of stores and boost revenue to 25 billion rubles by the end of 2016.
Spar Retail currently manages 27 stores and revenue in 2013 will be 7 billion rubles, the company's CEO, Maksim Grishakov, told the press.
Revenue will be 4%-5% less than last year in 2013 because the company closed down some stores for refurbishment.
The retailer plans to increase revenue to 10.5 billion rubles in 2014 and like for like sales should climb 10%.
Spar plans to open 30 new stores in 2014-2016 and refurbish a large share of its existing stores.
The gross profit margin is 29.8%, Grishakov said. Spar hopes to increase this by 0.5 to 1 percentage point per year by optimizing its range and work with suppliers.
The EBITDA margin in 2014 will be 4%-5% and the target indicator is 7%, he said.