WAL-MART Has Been Forced To Lay Off Hundreds Of People In China Amid The Sluggish Retail Business.

Ding Liguo, a senior retail expert, said: "WAL-MART is still considering this matter from the perspective of cost cutting."

In pursuit of performance, since there is not much breakthroughs in sales, we can only consider "saving money".

"By the end of the year, management must also be accountable, including the performance of the whole year and the future.

It is also necessary to explain to the board of directors.

In the three quarter ended October 31st, WAL-MART China's sales fell by 0.8%.

WAL-MART management blamed it on inflation and government.

。

Management said that the Chinese government's control over excessive consumption by state-owned enterprises has hit the whole country.

Retail sales of gift cards and moon cakes have shrunk dramatically.

According to China Statistics Bureau, the total retail sales in China in the first ten months increased by 12% compared with the same period last year, down from 13% in the same period last year.

Citing a director of a WAL-MART department, he said, "I have been in the company for 17 years, and I signed an open-ended contract. The reorganization of the company needs us to negotiate, but there is no consultation now. It is to give us a plan to see if we can accept it."

The director said that the company has made it clear that the plan given is unique and will not be modified because it involves more personnel, but once the talks fail, it can only rescind the labor contract. "This is a unilateral dissolution of the labor contract."

WAL-MART has four hundred stores in China. Last year, the company said it would close its store with poor performance and restructure its future business.

According to Ding Liguo, in China, WAL-MART is "walking on three legs": hypermarket, Sam club and shop No. 1.

But at present, in addition to the performance of the Sam club, the No. 1 store is not very good, and the big store business is entering a downturn. Last year, WAL-MART closed 14 stores in China and planned to close more than 20 again this year.

Statistics show that WAL-MART has slowed down its expansion in recent years.

According to the industry statistics, the average shop opening speed of WAL-MART in China was around 50 before 2012, but from 2013, the speed has dropped to 100 new stores in 3 years.

Bracy said that by the end of 2016, the number of WAL-MART stores in China will increase to 480.

Related links:

In November 27th, Bosideng International Holdings Limited announced that in the six months ended September 30, 2014, the Group recorded an income of about 2 billion 849 million yuan, an increase of about 1.4% over the same period last year.

The profit margin of shareholders should be 253 million yuan, down 22.5% from the same period last year, gross margin decreased by 2 percentage points to 47.4%, earnings per share were 3.18 points, and the medium-term interest rate was 1.2 Hong Kong cents.

Bosideng analysis showed that the increase in income mainly came from OEM processing business and non down garment business, and revenue increased by about 54.8% and 5.1% respectively compared with the same period last year.

In the down jacket business, during the period, the group focused on digestion, and repositioned the brand and optimized the management and sales channels to meet the market demand. During the restructuring period, the revenue fell by about 19.2% compared with the same period last year.

-->