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Victory Grocery store Chain (TASE: VCTR) CEO Eyal Ravid is in talks to promote the seven Tel Aviv branches of the Victory Metropolis sub-chain, which was solely opened two years in the past, to different firms. The businesses involved in shopping for Victory Metropolis are usually not giant chains by three small firms.
The businesses shall be ready to function the Victory Metropolis branches on Friday nights and Saturdays, which Ravid is just not ready to do, thus permitting rivals to reap the income as a substitute.
Victory Metropolis has seven branches in central Tel Aviv in Ahad Ha’am, Yehuda Halevy, Weizmann, Allenby, Rothschild, Margoza, and Florentin Streets.
In July 2021, Ravid introduced that he deliberate opening 50 Victory Metropolis branches within the Tel Aviv Metropolitan area on the AM:PM neighborhood format to compete with rivals like Shufersal Specific, Tremendous Yuda, and Tiv Taam. However in August, Ravid introduced that he was reconsidering the chain’s choices after Victory Metropolis contributed to a 0.4% decline in operational income within the first half of 2023.
With competitors rising in Tel Aviv, Victory prefers to focus assets on giant branches in additional peripheral places. In 2024, Victory plans to open 4 such branches – 1,000 sq. meter shops in Tel Mond and Harish, a 2,000 sq. meter retailer in Emek Hefer, and a greater than 3,000 sq. meter retailer in Dimona.
Revealed by Globes, Israel enterprise information – en.globes.co.il – on December 13, 2023.
© Copyright of Globes Writer Itonut (1983) Ltd., 2023.
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