WangChung,
Have you ever been to the IGA next suburb over at Ascot? It's one of those like Romeo's IGA used in the last presentation as an example of an over-performing store, and every time I've been in there it's been bustling.
It's focused on fresh produce and more delicatessen type foods - cheeses etc - for the upper end of the shopping market.
It seems to be the only segment of MTS F&G's business that is actually doing well, and it's the polar opposite of the Value Depot.
The problem for MTS would seem to be that even now, with the economy gradually recovering, this sort of market is only ever going to be a minor component of the business. Although it's worth noting there are several similar stores in the Ascot/Clayfield area and they are all very successful, so I guess there is some scope to expand there. Problem is they are restricted to upper-class areas.
Ann: FY14 Guidance Update , page-40
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