Wal-Mart’s Seiyu Forecasts $50 million Loss
Wal-Mart Stores, Inc. (Public, NYSE:WMT) Japanese unit, Seiyu Ltd. is predicting that its group net loss will be 5.9 billion yen ($50 millionish) in the year leading up to December.
The company originally predicted a profit of $6.5 million.
Seiyu cut its net profit forecast to $40 million from $85 million.
Still…Wal-Mart says it is not ready to give up on Japan despite pulling out of
Germany and South Korea last year.
The French giant, Carrefour left Japan in 2005.
Can Wal-Mart be far behind?
