BEIJING Home Depot Inc., the U.S.-based home improvement retailer, says it will close its remaining seven big box outlets in China and focus on Internet-based sales and specialty stores.
The company said Friday the closures will result in a loss of 850 jobs.
Home Depot said it will retain two specialty stores in Tianjin, a city east of Beijing, and is developing relations with Chinese e-commerce websites.
The company said it will keep 170 staff in its specialty stores, a sourcing office and a
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BEIJING Home Depot Inc., the U.S.-based home improvement retailer, says it will close its remaining seven big box outlets in China and focus on Internet-based sales and specialty stores.
The company said Friday the closures will result in a loss of 850 jobs.
Home Depot said it will retain two specialty stores in Tianjin, a city east of Beijing, and is developing relations with Chinese e-commerce websites.
The company said it will keep 170 staff in its specialty stores, a sourcing office and a team to work on new retail formats.
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