Posted on 03/04/2005 12:10:26 PM PST by Toddsterpatriot
Wal-Mart plans 10 new stores in China Firm aims to profit from new rules for foreign retailers
Updated: 11:51 a.m. ET Nov. 2, 2004BEIJING -
The world’s biggest retailer, Wal-Mart Stores Inc., said it planned at least 10 new stores in China next year, joining other foreign retail giants in taking advantage of new rules letting them move into smaller cities.
...Snip...
Last year, it sourced $15 billion worth of goods in low-cost China, from bicycles to fish. Scott said Chinese products made up about 80 percent of imports sold by Wal-Mart at its more than 3,200 U.S. outlets.
Copyright 2005 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters
(Excerpt) Read more at msnbc.msn.com ...
All the China Wally-world stores should sell stuff made in Taiwan. ;)
The source says 50%-50%. Please, by all means, prove me wrong.
But use a real source, not your lame "I saw it with my own eyes, everything in WalMart is from China"
That's so 4th grade.
He(?) gets cranky when you point out his math and comprehension shortfalls.
I noticed, the funny part is I fully expected a similar response. It's sort of a universal formula on FR, anyone that starts by saying you're lying, then lies themselves and insults you is sure to complain that you're mean in their next post. It's so predictable I almost think that breed of poster are actually web-bots, it's not their fault they're just coded wrong.
Next year it will be higher, maybe 9%. Still a long way from most (50.1%) or all (100%), but that's just my Catholic school math talking.
I keep forgetting how publik skool math works. LOL!
Todd, I think the issue is with the language of their information (calm down...I'm not accusing you of not knowing how to read :-)). As I read it, they mean 1/2 were purchases from companies making goods specifically to WalMart's specs, sort of like an OEM manufacturer, while the other half from companies selling them general merchandise that was already being made for others. Basically I mean half made to order and half bought off the shelf so to speak. In my case (A Japanese company with distributors in the U.S. and Canada) we wouldn't fall under either category even though the specific goods we sell WalMart are made in China.
I work in Lyndhurst - that's pretty close to Bloomfield. I live up near Mahwah.
It's all about the sacred cows, I like to challenge them to compare WalMart's stock to their competitors, Wally and Target and KMart have like 90% brand consistency so those offensive Chinese goods you find in one will probably be in the others (and in Penneys and Robinsons May and other stores that compete in those product areas). But they just don't dig on that. Never challenge a sacred cow.
$600,000,000,000.00 trade deficit in 2004. Now you do the math. And I am very very good at math, and the first thing one does then working with numbers is get the right numbers. Your are bogus numbers as has been pointed out to you by numberious posters. It is so 2cd grade to use bogus numbers.
That depends. If they buy the goods from the Canadian or US distributors then you might be correct.
If they buy them from your plant in China, then I am correct. Either way, they don't sell 100% Chinese goods.
According to walmartfacts.com they bought $137.5 billion from US companies. Is zero of that sourced from Chinese companies? I don't know. But I'm open to new sources (linked of course) unlike some dingbats around here.
And only 3% of that is WalMart (and that's if you assume ALL WalMart imports are part of the trade deficit and completely ignore all the exports WalMart is responsible for by having stores in other countries), so why do you have it so bad against WalMart? Take Wally out of the picture and the trade deficit is still $581,250,000,000.00 at best.
I don't disagree with your number here. Now didn't that source say $15 billion was from WalMart?
Your are bogus numbers as has been pointed out to you by numberious posters. It is so 2cd grade to use bogus numbers.
Which of my numbers was bogus? The $15 billion WalMart bought from China? Or was it the $198.747 billion they bought total?
That'll teach 'em!! We've seen how cheap Japanese, Taiwanese, South Korean and Chinese goods have destroyed America. We've only been importing that stuff for what, 40 years? I bet if we keep importing stuff for 40 more years, we'll really be in trouble.
If they buy them from your plant in China, then I am correct. Either way, they don't sell 100% Chinese goods.
Exactly. They don't buy them from our factory there, they purchase them from us via their local buying office and we assign the order to the plant that can produce them at the pricing they want still allowing a meagre profit for us. In some cases the plant will be in China, in other cases one of our other factories in Japan, Malaysia, or in the States. All they care about is the price we sell to them at...we could make it in Antarctica for all they care. Their Chinese buying office deals only with stuff they procur themselves and flush through their supply chain. In our case we get classed as "locally sourced."
I'd call their buyer I deal with and confirm the numbers but based on his usual behavior we'd be lucky to get a call back by this time next week :-). I will try and remember to ask him the next time I get a chance though and if he gives me an answer or even knows I'll ping you with his response.
I caught some big bass in Franklin Lakes sand pits when I was a kid. Used to hitchhike from W.Orange all over to that area fishing and awimming.
A kid tries it now, they'll prolly never be heard from again. ;)
LOL!
What do you know? Sounds like Todd is right and SwankyC feels stupid, again.
Thanks for posting facts, not feelings.
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