AUSTRALIA: Competition in liquor to remain high - Coles Myer
The aggressive competition seen in Australia's liquor sector is expected to continue in the near future according to Australia's biggest retailer Coles Myer.
"The competitive pressures in liquor are still quite strong," Coles Myer food and liquor chief operating officer Alan Williams told a briefing. "We would be of the view that that will continue at least in the short term," he said.
Although there are no major acquisitions planned by the company, it said expected annual capital expenditure to come in at around A$700 million in 2001/02. That included spending on new store openings, store refurbishments and information systems in the second half.
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