Sunday, April 17, 2005
Daiei dying
On Friday the Japanese retailer chain Daiei reported a net loss of $5 billion on revenues of $18 billion for the year ending in February. I remember that when I was in Japan, Daiei was a kind of Japanese superstore much like Walmart -- they had supermarkets, clothing stores, general merchandise stores, even a baseball team that they had to sell under financial pressure in December 2004. Now their sales are dropping everywhere, from old stores to newly opened outlets that try to attract a new clientele. I almost feel bad for them, but then I also take this as a potential good sign of what could happen to Walmart. Or Tri-City. One can only hope...
- posted by Woofwoof @ 8:02 AM
