Spur has been a backdrop to the lives of South Africans for decades. From teenagers heading to a Spur Steak Ranch to families meeting up for special occasions or young adults having their first beer - it's those same teenagers two or three decades later who now take their children for burgers. As a nostalgia brand, Spur still resonates with consumers, though its recent results suggest that this sentiment may be wearing thin. The first Spur restaurant, the Golden Spur Steak Ranch, was opened in Dean Street, Newlands, Cape Town, on October 24 1967 and now the group's several brands have grown to 575 outlets in Africa, Australia, New Zealand and the Middle East. The brand celebrates its 50th anniversary next month, amid questions about its growth prospects. Sales at Spur Steak Ranches declined 2.1% for the year ended June 30 compared with the prior year, the biggest drop in its history, while it soaked up the "financial difficulties of middle-income South African families". The company...
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