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#1
07-30-2006, 12:14 PM
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Wal-Mart goes belly up...
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#2
07-30-2006, 02:16 PM
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Sy Schlueter, chief executive of investment house Copernicus in Hamburg, said Wal-Mart had trouble winning over German consumers, who tend to be very price-focused and would rather drive to a different store if they know they can buy something cheaper. National discounters such as Lidl GmbH and Aldi Einkauf GmbH put the heat on Wal-Mart's sales, he said, by having the same merchandise at prices that were often just as competitive.
Furthermore, Schlueter said consumers rejected some of Wal-Mart's signature features, like stores outside of town centers, employees required to smile and heartily greet customers, or baggers at checkouts. "These guys are businessmen," Schlueter told Dow Jones Newswires. "The business had turnover, but if you lose money for 10 years, you get out. Wal-Mart wasn't here to prove their business model works, they were here to make money," Schlueter said. "Apparently even their patience is not unlimited."
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#7
07-31-2006, 01:54 AM
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do you even know what belly up means?? pulling out of a market does not equate to bankruptcy or bankruptcy protection.
Quote:
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#9
07-31-2006, 06:45 AM
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What's even worse for them is that they sold all their 85 stores to the company "METRO".
They are a huge chain store. Their stores are a combination of Home Depot, linen, bed and bath. They even have them in eastern Europe, where people love them. The other one is also German, called "Praktiker". Same thing.
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#10
07-31-2006, 07:20 AM
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WallyWorld sold/"pulled out" of South Korea a monthish
ago, too. They realized they were not successful in sludding the US concept to those countries. Not a huge fan of the WalMartNation and the dumbing down of the quality of goods, but they are not idiots. If a biz model/plan doesn't work after a reasonable effort even with tweaking, time to cut losses and go, imo.
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