Tuesday, March 04, 2008
Japanese Wal-Mart Bleeding Money
Life gets worse for Wal-Mart in Japan
Tags: Wal-Mart, WalMart, Japan, net loss
The world's largest retailer did have a tough time in the big Asian market last year. The operation there said "it now expected to post a group net loss of 20.9 billion yen ($196 million) for calendar 2007, instead of its previous forecast for a loss of 10.4 billion yen, " according to Reuters. Same-store sales for the year dropped just over 1%.Bad for Wal-Mart, bad for its shareholders but good for the universe in general.
Tags: Wal-Mart, WalMart, Japan, net loss
Labels: Japan
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