Brand Updates & Reviews News Around

Walmart has suffered more than $10 billion business in China due to coronavirus!

Walmart executives broke down the retail giant’s response to the coronavirus outbreak in China during the company’s investment community event on Tuesday. It’s cutting store hours at locations in China and doubling down on a partnership with Chinese delivery and logistics firm Dada-JD Daojia. It’s also anticipating a negative hit to its first-quarter numbers. 

While Walmart’s leadership said the coronavirus would likely have a small negative impact on its first quarter, it’s too early to know the outbreak’s impact beyond that, Business Insider reported.

Later, in response to a question from Gordon Haskett analyst Chuck Grom, the CEO said that most Walmart stores and Sam’s Clubs in China are operating on reduced hours.

According to McMillon, Walmart’s partnership with Dada-JD Daojia has proved crucial as Chinese customers rely on delivery to get by during the outbreak. 

During her portion of the presentation, McKenna said that Dada-JD Daojia provides Walmart Hypermarket, Walmart Supermarket, and Sam’s Club customers with a one-hour delivery service.

Business Insider reported that the company has taken more of a hit in terms of its product mix in stores, as shoppers eschew items like apparel and toys in favor of essentials like food and household staples.

Related Articles

GEO News inaccessible in parts of provincial capital

Isra Shams

World’s first holographic smartphone Hydrogen One officially launched

Yumna Tirmizi

Serena Williams beats sister Venus for record 23rd slam title

Isra Shams