Spar is exiting Poland and doubling down in South Africa, as the CEO seeks a more competitive strategy.
Spar, South Africa’s second-largest grocer by revenue, plans to cut debt and focus on its home market after exiting Poland this year.
The exit from its smallest market will help the retailer focus on South Africa, which accounts for more than 60% of its revenue. Swartz was appointed to his post in October with a mandate to strengthen the retailer after top executives resigned over governance issues.
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