Word: braziller
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...Mart's push into China--and Brazil and Germany and deeper into California and New York--offers a hint of why the world's largest retailer seems unfazed by this stinker of a holiday shopping season. Wal-Mart's sales in stores open at least a year were up only about 3% compared with the same period last year--at the low end of its expectations. But many other retailers were hurt much worse. Wal-Mart just keeps gaining market share, not only from bankrupt discounter Kmart but also from grocers like Kroger, drugstore chains like CVS and electronics sellers...
...internationally, the need to leverage international and domestic buying power was key, and the only way to do it effectively is to do it ourselves," says Ken Eaton, who heads global procurement. The idea is to buy goods universally for all stores where feasible, so the 20 locations in Brazil can get the same price as the 3,400 Wal-Marts...
...BRAZIL Misery's Road Trip On his first official trip, newly elected President Luiz Inacio Lula da Silva took 29 members of his cabinet to Vila IrmãDulce in the northeastern state of Piauí, the second-poorest in Brazil, to witness what he called "absolute poverty." Lula - as the President is universally known - has made eradicating the malnutrition that afflicts 54 million Brazilians the top priority of his center-left government. Dubbed "the caravan of misery," the trip made good on Lula's election promise to take his ministers to see the suffering of the country's rural...
...exactly the right merchandise is still paramount. So the store in Shenzhen, just north of Hong Kong, is crowded with tanks of crabs, fish, frogs and shrimp, which can be taken home wiggling or be expertly gutted and cleaned on the spot. Wal-Mart's push into China - and Brazil and Britain and Germany and deeper into California and New York - offers a hint of why the world's largest retailer seems unfazed by this stinker of a holiday shopping season. Wal-Mart's 3% like-for-like sales increase in the fourth quarter...
...conglomerates’ fault. The crisis is the result of the end of the International Coffee Agreements, which allotted each country a maximum quota of coffee production. When these rules went by the wayside in a 1989 gale of post-Communist love, world coffee production went haywire. Brazil and Vietnam began producing madly, flooding the market with excess coffee. Prices worldwide plummeted, creating the current scenario, where coffee farmers are paid significantly less than the cost of production and are often forced to sell their land to large, environmentally horrendous agribusinesses...