As American retail behemoth Walmart continues to cancel orders worldwide to align inventory levels and pursue the demands of budget-conscious consumers, garment exporters in Bangladesh are apprehending significant business loss.
Media reports claimed this citing the concerned garment makers, while adding Walmart is one of the major buyers of ‘Made in Bangladesh’ apparel items.
Speaking to media, BGMEA Vice-President Rakibul Alam Chowdhury, reportedly, underlined the industry was suffering as the American multinational retailer had already cancelled some orders even if as per reports, Walmart’s executives have, reportedly, said it has cleared out most of its summer collections ahead of the back-to-school season and the upcoming holiday period while adding the company was making progress redesigning its inventories.
But it will take Walmart at least a couple more quarters to wring the imbalances out of its network.
