BOTSWANA-based retailer Choppies has missed targets to break even in SA this year due to the rapid deterioration in consumer spend in the country’s mining areas, where most of its stores are located.But the discount retailer said it was reasonably confident its performance would soon turn around, after the acquisition of 21 stores owned by Durban-based Jwayelani, which were expected to unlock significant synergies. Choppies is in a race against time to reach its target of 200 stores by year-end, and on Tuesday reported a loss before tax of 23.7-million pula (R32.4m) at its South African operations in the six months to December.The loss came as financially strained consumers in towns such as Rustenburg and Carletonville, where a number of mining companies have closed shafts, increased purchases of basic staples, that earn lower margins such as rice, flour, sugar and mielie meal."With our expansion plan, we should have been breaking even in SA by this financial period. But we couldn’t...
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