20 Jul 2011The entry of US giant Walmart into South Africa’s retail industry in June is expected to lower consumer prices significantly in the longer term, including those of food. Following its takeover by Walmart, Massmart plans to accelerate growth by opening new stores and entering new countries.
Food will be a big focus for the company, and it intends to grow this category by R60 billion over the next five years, Massmart chief executive Grant Pattison said recently. The focus on growth includes converting 100 Game stores into Game Foodco stores that will sell fresh food. Four stores have already been converted, another 15 will follow within the next 12 months, and the rest will be added as quickly as possible.
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