Word: asda
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...Mexico. The company recently landed in Japan, buying 34% of Seiyu, a leading retailer there, adding market No. 10. That leaves most of Europe, not to mention large parts of Asia and South America. Wal-Mart made a dream debut in the U.K. with the $10.7 billion acquisition of ASDA in mid-1999, where it discovered a company almost perfectly in tune with its Every Day Low Price (EDLP) culture. But expansion in Germany has been less than stellar, delaying, perhaps, Wal-Mart's move into the rest of Europe. Wal-Mart reached Europe in 1998 when it bought Germany...
...economy. Mario Vs. Super Mario The score was Mario Monti 1, Nintendo €149 million, as the European Commission levied its fifth-largest fine ever against the Japanese video-games company for keeping prices artificially high in some E.U. states during the 1990s. Gross Domestic Product When hundreds of ASDA's British supermarket customers were caught illegally using vegetable oil as a cheap, tax-free fuel, the company got an idea. From January, ASDA will reprocess used frying fat to power its delivery fleet. That may be environmentally sound. But will trucks emblazoned with the charming slogan "This vehicle...
...world's biggest retailer entered the European market in December 1997 when it bought Germany's Wertkauf chain of hypermarkets. Thirteen months later, it picked up a second German chain, Interspar. In June 1999 it paid $10.8 billion for Asda, Britain's No. 3 supermarket chain. Expectations were high that Wal-Mart would quickly become a major European presence by leveraging its super-efficient sales techniques, high-tech inventory-tracking systems and global sourcing prowess...
...stores command only a 1.1% share of the food-sales market, Wal-Mart is floundering in red ink. The company won't say what its German losses total-analysts peg them at a whopping $200 million a year-but admits profitability is at least two years away. In Britain, Asda is a successful, moneymaking enterprise, but analysts doubt it can realize the ambitious targets set by Wal-Mart to cover the high price of admission. In its fiscal year just before the acquisition, Asda had operating profits of $702 million, and Wal-Mart vows to double that...
...lack of scale. In the U.S., where it can shift massive volumes of stock through its mammoth supercenters, the company wrings price concessions from suppliers and passes on the savings to customers. Wal-Mart's 3,118 stores in the U.S. average 38,109 sq m each; Asda's 241 outlets are barely one-third that size. Moreover, Asda is primarily devoted to food, not higher-margin general merchandise...