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(From BusinessWorld (Philippines))

New retailer in town

The former PriceSmart outlet along Ortigas Ave. Extension at the boundary of Pasig City and Cainta, Rizal has a new occupant. The old warehouse has been torn down and construction is in full swing for Grocery 8, whose owner has yet to be identified. Once operational, right next door Ever Gotesco-Ortigas, which caters to the CD market, will have real competition since the new warehouse store will offer rock-bottom wholesale prices. PriceSmart was not a threat as it mainly catered to the small import-conscious market in the area, which was one of the reasons for its pullout due to lack of critical customer …