Feedback Here

fbook  tweeter  linkin YouTube
Global contents also translated in Chinese

Walmart reducing stores to affect Bangladesh RMG units

Bangladesh’s apparel exports to the US may be affected by Walmart’s decision to trim its store count. The US imports readymade garments worth $5 billion annually from Bangladesh and Walmart alone accounts for 20 per cent of this. Bangladesh exported 1,720 million sq. mt. of clothes worth in the January-November period of last calendar year to the US.

Meanwhile Walmart has decided to close down 269 stores in the US and across the globe under its cost-cutting move. A review of the company’s portfolio is underway to ensure assets are aligned with strategy.

Walmart has some 11,600 worldwide stores and their financial performance is being assessed. It says it’s actively managing its portfolio of assets to maintain healthy business. On the other hand, the company is committed to growing. It says it will open more than 300 stores around the world next year.

Though the impact of Walmart's cost-cutting measure would not be felt immediately, Bangladesh garment makers feel prices for their products might decline further. Walmart may not minimise orders from Bangladesh immediately but the annual growth might remain static for Bangladesh’s products.

Walmart has 200 factories in Bangladesh. It is a founding member of the Alliance for Bangladesh Worker Safety comprising 26 North American retailers and suppliers.

www.walmart.com/

 

 
LATEST TOP NEWS
 


 
MOST POPULAR NEWS
VF Logo