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Chasing too much, too soon sank Kaufland

No doubt there was some fist-pumping and backslapping at the headquarters of Woolworths, Coles, Metcash, Aldi and Costco last week. There was probably also a sense of relief among the discount store brands that a new market entrant had decided to exit Australia before opening a single store. Kaufland’s sudden and unexpected announcement is likely to leave the privately owned German retailer with a loss exceeding $500 million on its aborted plan to open at least 20 stores in Australia. The firs