Australia-Green Light for supermarket chain.

AUSTRALIA

NEW SUPERMARKET CHAIN

The worlds fourth largest supermarket chain have set theirs sights on Australia.

Costco, the fourth largest supermarket chain in the world, plan to open new stores in Sydney and Melbourne Australia, according to their Australian executive Patrick Noon.

The normal store would be around 14,000 square meters according to Noon and suitable in warehouse type buildings.

The company currently have stores in the USA, UK, Korea, Mexico and Taiwan and now have Australia in their sights.

The Australian supermarket trade is pretty evenly divided between Cole’s and Woolworth’s, with a few smaller chains taking a very much smaller market share.

There has been a recent government inquiry, into the profit margins of the supermarkets in relation to the meat industry.

Both Cole’s and Woolworth’s buy their own live animals and slaughter them throughout the country.