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Wed 6 Feb 2008 04:00 AM

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Savola risks all for festival

Saudi-Arabia based chain's flagship hypermarket in Dubai puts annual sales targets on the line for inaugural Cost Price Festival.

Savola Group's first HyperPanda outside of Saudi Arabia will place its turnover for 2008 under major threat during its Cost Price Festival.

Thomas Galet, store manager at the Dubai Festival City branch of HyperPanda, said that if the predicted tourist numbers are not met, "it will be a total disaster for ourselves and the suppliers, we will not be able to recover sales for the rest of the year."

The festival has been engineered to push down prices across the categories, particularly non-food items, and will run until February 24.

Galet admitted the month-long promotion has been developed to encourage repeat custom and "show that we want to be the leader in price."

As part of firm efforts to ramp up excitement about the reductions, the store will circulate 100,000 leaflets, and emphasise the upcoming price slashes on 80% of its electronics goods.

"We want to show that we are here, and that all sections will be reduced from fridges to mobile phones, and this will require our employees to work a lot of overtime."

Galet said the store has been operating on line with expectations and "profitable," despite the ongoing completion of many nearby outlets at Dubai's Festival Centre.

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