The subprime crisis has caused Americans to cut spending and become more frugal, so the US retail industry may be in a downturn in 2008. This pessimism is reflected in the recent announcement by a large number of US retailers of their 2008 results.
Staples, a large office supplies retailer, estimates that the economic downturn will run through 2008; the US's largest home furnishing chain, Depot, expects its 2008 sales to fall 4% to 5%, and same-store sales are expected to fall 5% to 9%. Operating profit is expected to fall by 19% to 24%; electronics retailer Best Buy also lowered its profit forecast range.
The US retail industry has a cold, and Chinese factories are going to sneeze.
The order is reduced, which is the most intuitive feeling of the factory. “From January to February, there were 2/3 times in a semi-discontinued state.†A clothing owner in Jiangxi reported that 80% to 90% of his factories’ orders came from the US market, and this year’s orders were surprisingly small. What he didn't know was that there was a large amount of clothing in the warehouse of American retailers that was not sold.
In fact, as early as the end of last year, US retailers made plans to reduce purchases, and this information was quickly passed on its global supply chain. The first is their procurement office in China, and the large US importers who directly serve them, large trading companies in Hong Kong, China, Taiwan and South Korea. Then, the trading companies in mainland China and the factories that export themselves find orders this year. Less, the last thing that senses chill is the factory that is purely processing.
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