Word: wal
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Dates: during 2000-2009
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...founders of Apex Digital in Ontario, Calif., have sold enough cheap DVD players in North America to steal a 14% share of that market. The firm has machines assembled for a pittance in China and sells them in the U.S. at such bargain stores as Wal-Mart. Now Apex is targeting TVs. It will have 18 models out by June. Not bad for a pair who began by peddling scrap metal to China...
...plans to open more?a lot of them. So do other "hypermarkets," giant retailers from Europe and America that are taking over some of Asia's prime selling grounds. Despite threats by governments to ban them, not to mention rocket attacks, chains, including France's Carrefour and U.S.-based Wal-Mart, are ramping up plans to open hundreds of new outlets throughout the region over the next several years. The onslaught threatens to run local retailers right out of business. Says Boonyoong Vimuttayon, a Bangkok grocery store owner who has seen her sales decline by more than half since...
...their homelands by being brutally efficient, selling a mind-boggling range of products?from groceries to pharmaceuticals to clothes to big-screen TVs?at cut-rate prices. U.S.-based Costco operates spartan warehouses where bulk goods are stacked on pallets and sold to the public wholesale. The mammoth Wal-Mart chain?annual revenues of $218 billion made it the largest company on this year's FORTUNE 500 list?emphasizes customer service to bring in the crowds while keeping prices in check with high-tech inventory management?and by using its clout to cow suppliers. Charles Holley, senior vice president...
...That's not to say the foreigners are unstoppable. Both Wal-Mart and Carrefour, the world's second largest retailer, tried and failed to crack the Hong Kong market in the 1990s. Hong Kong consumers seemed to prefer familiar neighborhood chain stores. Carrefour lost $400 million between 1996 and 2000 on four Hong Kong outlets. "It all ended in tears, really," says Alan Treadgold, director of retail research for ad agency Leo Burnett Worldwide in Sydney. "They just couldn't make the format work...
...Carnegie's eggs were made of steel. Fast-forward to today, when average workers have become rich at Microsoft and Dell by loading up on their employers' stock (thus the Dellionaires). Bill Gates' portfolio is still overwhelmingly Microsoft. Bad planning, Bill. And how about the folks who retire from Wal-Mart and can shop at Tiffany because they bought Sam Walton's stock on the cheap? One stock. One company...