Final Word from Monday, March 30, 2015

When Kmart took over Máj in 1992, it knew so little about Europe that it sold U.S.-size envelopes, instead of the standard C6, DL, etc. After Tesco bought Máj and Kmart's other stores in 1996, it ran into its own obstacles. The most common customer complaint is probably the quality and cost of its fruits and vegetables. Selling second-rate produce for first-rate prices might seem like a winning strategy, but it isn't working. Tesco now plans a major management downsizing by creating a single business unit for Central Europe. This announcement came soon after news leaked that Andrej Babiš and Walmart's ASDA were the two top contenders to buy Tesco's Czech, Slovak and Hungarian assets. Lean-and-mean Walmart might welcome such a downsizing, but what about Babiš, who has no retail experience? Would he have the management team to run a major retail chain in three countries, Agrofert and a country too? [Czech Republic Wal-mart retailing Asda American K-mart]

Glossary of difficult words

to eye - to look at or watch closely with interest;

DL - an invoice-size envelope;

produce - things that have been produced or grown, esp. by farming;

to downsize - to make (a company or organization) smaller by eliminating staff positions.


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