Consumer Business Report: Chinese Auto Sales Impact Japan, Wal-Mart Rumors Impact Supervalu
The current dispute between China and Japan is bad for automobile production in Japan as the country’s automakers are seeing September figures for sales in China falling precipitously. Toyota Motor Corporation (NYSE:TM) sales plummeted by 48.9 percent year-over-year, Honda Motor Co. (NYSE:HMC) fell 40.5 percent, and Nissan Motor Co. dropped by a smaller 35.3 percent. Already, the companies are scaling back production that would otherwise be headed for China.
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Rumors that Wal-Mart Stores (NYSE:WMT) will make public more details on Wednesday at an investor meeting, in regards to a plan to expand its small stores concept, apparently have shares of Supervalu (NYSE:SVU) heading downwards. Even though the retailing giant has ambitions for mini-stores in the huge metropolitan areas, they appear to be only small in scope right now, but it might still easily rival grocery stores in the future.