Wal-Mart Can’t Hack it in Japan
The retail giant has met its match in the Japanese consumer: Seiyu, Wal-Mart's Japanese division, has posted $465 million in losses for the first half of 2006. It's not looking good overseas for the shopping mecca?German and South Korean divisions were shut down earlier this year after poor performance.
The retail giant has met its match in the Japanese consumer: Seiyu, Wal-Mart’s Japanese division, has posted $465 million in losses for the first half of 2006. It’s not looking good overseas for the shopping mecca?German and South Korean divisions were shut down earlier this year after poor performance.
BBC News:
Wait, before you go…Japan has proven to be a difficult market for foreign retailers.
French giant Carrefour, the world’s second largest retailer to Wal-Mart’s number one, pulled out of the Japanese marketplace last year.
Earlier this month Wal-Mart announced its first drop in profits for 10 years, blaming the cost of pulling out of Germany.
Its global second-quarter profits dropped to $2.08bn (£1.1bn) from $2.8bn a year earlier.
If you're reading this, you probably already know that non-profit, independent journalism is under threat worldwide. Independent news sites are overshadowed by larger heavily funded mainstream media that inundate us with hype and noise that barely scratch the surface. We believe that our readers deserve to know the full story. Truthdig writers bravely dig beneath the headlines to give you thought-provoking, investigative reporting and analysis that tells you what’s really happening and who’s rolling up their sleeves to do something about it.
Like you, we believe a well-informed public that doesn’t have blind faith in the status quo can help change the world. Your contribution of as little as $5 monthly or $35 annually will make you a groundbreaking member and lays the foundation of our work.
Support Truthdig
Europe
The New York Times called it a “mystery,” but the U.S. executed a covert sea operation that was kept secret — until now, according to Pulitzer Prize-winning journalist Seymour Hersh.
A roundup of the latest news on the world's coronavirus pandemic.
From religion to sports, countries are taking radical and increasingly visible measures to curb the coronavirus.
The viral outbreak is threatening to crimp worldwide economic growth and hurt profits and revenue for a wide range of businesses.
The dead assailant leaves manifesto behind after rampage at hookah bar and surrounding sites near Frankfurt in act of domestic terrorism.
The roots of the our ruling class' disdain for protest movements can be traced all the back to World War I. Part 2 of a two-part essay.
There are currently no responses to this article.
Be the first to respond.