Author: Nick Wilson

SPAR’s new CEO Angelo Swartz says the group’s planned exit from Poland will have many benefits. (Nick Wilson/News24) SPAR’s planned withdrawal from Poland in September will free up about half a billion rand a year in pre-tax profits to help it double down on growing its market share locally and pay down debt. As part of these efforts to increase market share, SA’s second-largest grocery group by footprint also says it has big plans to expand into top and lower-income markets with greater differentiation. This will take the form of new stores, as well as seeing the group convert existing…

Woolworths has signed a deal to acquire around 150 Absolute Pets stores. Woolworths has ambitions to become the number one player in the local pet care industry through its acquisition of Absolute Pets. Even as it struggles with declining volumes in its core business in SA, the JSE-listed retailer said it plans to spend to bulk up in this lucrative segment.The group, which is financing the acquisition of its 94% interest in Absolute Pets with cash, said in an interim results presentation that, in addition, it is also allocating some of the R10 billion it plans to invest in all…