Wanda Department Store Loss

Absrtact: Although Wanda Group recently announced that the first half of this year, Wanda department store revenue of 11.13 billion yuan, an increase of 62%, the first time in two years to complete the six-year goal, but also eye-catching is the entire management team from the end of last year's concussion. King of Wanda Group chairman

Although Wanda Group recently announced that the first half of this year, Wanda department stores revenue of 11.13 billion yuan, an increase of 62%, the first time in two years to complete the six-year goal, but also eye-catching is the entire management team from the end of last year's concussion.

Wanda Group chairman Wang before the media interviewed said, Wanda department store losses, on the one hand by the eight regulations and the impact of the electricity industry, the overall poor department stores, in addition to the most important internal management problems. The "Iron Fist" Wang even gave Wanda a timetable of 2 years to achieve profitability by the end of 2015.

Perhaps it is based on Wang's judgment that in March last year, Sun Jingchen, the general manager of Wanda department store, was removed from the position of general manager and appointed Shenjiaying as general manager of Wanda Department store. In addition to the general manager appointment and dismissal, the first half of this year, Dingyao, Shangyan and other high-level also left Wanda department store.

In fact, the management of Wanda department stores may have been adjusted from the end of last year, according to the people familiar with the "First financial daily" reporter revealed that from the end of last year, including Wuhan, Dongguan, Chengdu, Fujian, Hefei, Nanjing, Yantai and other areas of Wanda department store general manager of the change, Involving nearly 30 stores general manager level management.

"These people who leave, basically are Wanda department stores of the number one, and some regional general manager." Said the person familiar with the matter.

According to Wanda Group official website Information, June 27, Wanda department stores nationwide 80th stores in Manchuria Wanda Plaza opened. According to Wanda's expansion plan, by the end of this year, Wanda department stores will reach 99, the number of stores close to 100.

A number of industry insiders said that such a large-scale personnel adjustment, may be with Wanda department store performance status and Wang proposed goals do not match.

2013, Wanda department store realized revenue of 15.49 billion yuan, an increase of 39%, only to complete the adjustment plan after 91%, net profit Shang 7%. This also means that Wanda is not only not profitable, but also to expand the losses.

Recently, Quanzhou Wanda department store and Chengdu Wanda Department store merchants of the Taurus to the "First financial daily" reporter said, the current store general manager was in office at the end of last year, while Wanda Hefei Swan L. shop staff said that the former store general manager Liu Yan had resigned at the end of May, and the current store manager was replaced by the former deputy general manager.

And Hefei boutique Wanda department store's former general manager of the "First financial daily" reporter said, for personal reasons, has officially left Wanda in May.

It is reported that the opening of the business in December 2012 Quanzhou Wanda Department store, from the opening has been replaced 3 stores general manager. The first general manager of the store was transferred to other stores, the second general manager for personal reasons chose to leave, and the current third general manager from Wanda department store within the transfer.

In fact, such a situation is not a special case in Wanda department stores, other areas have similar frequent change of store manager.

A Wanda department store in Wuhan, an internal staff told the first financial daily reporter, a short time, Wuhan, a Wanda store general manager has changed 3 people.

As of press, Wuhan Water Chestnut Lake Wanda Department store and Wuhan East Lake Han Street Wanda General manager of the position is still vacant state, and Wuhan region opened Wanda Department store new store general manager took office shortly.

The mobility of people seems to have become a label for Wanda department stores in recent years.

September 2012, Wanda department store deputy general manager Zhao Runtao left, the following October, from the golden Eagle business to dig the President assistant, Wanda department store deputy general manager Suger also resigned. Before that, Li Zhisheng, general manager of the marketing department, also turned to Hunan alcoholic liquor group.

The general manager of a large shopping center, who declined to be named, said it was not normal for the general manager to change stores so high frequency, "according to the normal department stores, the general manager of the store change frequency of about 4 years, and to see if a store general manager has the ability to run the store's cycle is ”

People familiar with the situation believe that the large-scale personnel adjustment of Wanda department stores can be regarded as a low-key adjustment within the Wanda Group. And these adjustments, or with the Wang at the beginning of the department store operation.

Referring to the 2014-year work arrangement, Wang said: "Do a good job in department stores, this year as the group's president and vice president of the focus of the work, must complete this year's goal, to ensure that the department stores in two years to achieve overall profitability." ”

According to the public information, from 2010 onwards, Wanda launched a three-year quality promotion year activities. And Wang in the 2013 annual meeting of Wanda Group said that from 2014 onwards, Wanda will improve the quality of the year activities to expand to department stores, studios, big singers and children's entertainment and other retail stores. Wang made it clear in his speech that the ultimate goal of strengthening quality construction was to upgrade operations.

It is worth noting that the change of the general manager of the stores, a lot of Wanda department stores, a category. It is reported that according to performance management, Wanda department stores are divided into a, B, c three categories. Generally speaking, a class shop is located in Beijing, Shanghai and other major cities, while Class B, C stores are mainly distributed in the three or four-line City Wanda Plaza. According to the management framework of Wanda department store, each store manager manages a Wanda department store, which centers around the center store and 3~4 Home store to set up a regional general manager of the Central store. &NBSP