Wal-Mart Reduces China Sourcing - Branded Product Resurgence Continues

Planet Retail posts that according to local Chinese press reports, Wal-Mart will cut its sourcing from China by USD6 billion because the Chinese currency has been appreciating and some of the sourced products are not selling very well. Wal-Mart China has denied the reports, however. Some local suppliers are reportedly suffering because part or all of their orders from Wal-Mart have been canceled, with some suppliers relying on Wal-Mart for more than 50% of their annual sales.