Wal-Mart’s Moderate Invasion of China, McDonald’s Speeds into Canada: Consumer Biz Wrap
Colgate-Palmolive (NYSE:CL) and Procter & Gamble (NYSE:PG) are among several consumer goods firm that are slashing jobs in a big way. These reductions fit a pattern of companies in the sector who are trying to raise profits by eliminating jobs. Observers might well wonder which sector will make up the difference.
According to the top executive Wal-Mart Stores (NYSE:WMT) in China, the retailing giant intends to open an additional 100 stores in that country during the next three years. Actually for this company, the plans represent a relatively modest pace; could it be an indication that it’s backing online initiatives for growth in China through its interest in Yihaodian?
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Renault (RNSDF.PK) cuts its full-year delivery goal following the slowdown in its third quarter sales. The French automobile maker now predicts that 2012 sales will not equal the 2.72 million vehicles sold in 2011.
Canada’s top McDonald’s Corporation (NYSE:MCD) executive says that the company will step up the pace of its expansion there, after adding restaurants at a more moderate rate during the past five years.