Following the announcement by the world-renowned chain of building materials supermarkets, Home Depot China, that the company's last store in Beijing was closed, the company's head told reporters yesterday that Home Depot would not withdraw from the Beijing market.
On the afternoon of January 21st, following the closure of Minsi Temple in 2010, Home Depot officially announced the closure of its last store in Beijing, the West Fourth Ring Store. The head of Home Depot China said yesterday that the operating performance of the Xisihuan store did not meet the company's expectations when it first entered the Beijing market. The closure of the Xisihuan store was based on the group's decision based on commercial and financial evaluations. It is understood that Home Depot's closure of the West Fourth Ring Store is mainly due to the high operating costs of the single store following the closure of the Minsi Temple Store in 2010, and the difficulty of the chain size to play a role, resulting in the same high investment. Decide. At present, Home Depot has four stores in Tianjin, two stores in Xi'an and one store in Zhengzhou are operating normally.
It is reported that Home Depot has made an official statement to employees, customers and suppliers. The legal adviser of Home Depot said that for employees who signed the "Labor Termination Agreement" with the company before 5 pm on January 26, they will provide economic compensation higher than the legal standards of the labor department. As of press time, data from the Home Depot personnel department showed that more than half of the more than 100 employees in the West Fourth Ring Store had signed the agreement. In response to the after-sales service problem after closing the store, Home Depot said that the headquarters will turn on electricity and arrange a dedicated after-sales service team to solve related problems. Customers who purchase home improvement building materials at the West Depot store in the Home Depot can still enjoy the after-sales service provided by Home Depot during the warranty period.
According to an official statement from Home Depot, Home Depot will not withdraw from the Beijing market and will be committed to its development strategy in China for a long time. The person in charge revealed that at present, Home Depot is looking for new and suitable development opportunities, and will announce further plans for opening stores in due course. For other stores nationwide, Home Depot will increase investment and transformation, continue to introduce international brands, and increase the proportion of Home Depot's own brands.
Background link
American Home Depot is the world's leading home building materials retailer and the second largest retailer in the United States. On December 13, 2006, Home Depot acquired 12 branches from Home World Home Building Materials Supermarket Co., Ltd. and officially entered the Chinese market. On August 26, 2007, Home Depot was dominated by Beijing Minsi Temple Store, and all branches in six cities across the country opened simultaneously. But its consistent strategy of rapidly expanding overseas markets through wholly-owned acquisitions has not worked in the Beijing market. Its operating performance has not reached the expected target.
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