FairPrice, Sheng Siong in fine fettle even as Giant shrinks footprint

SUPERMARKET players are continuing to grow their physical footprint in Singapore, opening more stores in the face of stiff competition among physical stores and from online grocers.

News of supermarket chain Giant closing stores is seen by market watchers not as a symptom of decline in the grocery business, but a sign of the retailer withdrawing from one segment and training its focus on another.

Giant closed nine stores in a span of six months this year, leaving the chain with 45 outlets here as at September, down from 53 in February, based on an earlier media report.