Pick 'n' Pay Issues Profit Warning, BMI View Playing Out

Once the dust had started to settle on Wal-Mart's US$2.4bn acquisition of South Africa's Massmart, BMI published an article in June 2011 examining the likely implications for the food retail industry, which is where Wal-Mart is going to be focusing most of its attention on in South Africa (see our online service, June 13 2011, 'Who Stands To Lose The Most In Food Retail As Wal-Mart Comes To Town?'). Specifically, we looked at which retailers stood to lose the most and we argued that Pick 'n' Pay and Spar would probably be the most vulnerable, with Shoprite - Africa's largest

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