線下門店英文怎么說(線下門店英文怎么說怎么寫)

原文標題：RetailingEveryday low profitsA warning from Walmart about the health of the American consumer零售業天天低價

沃爾瑪的業績警示與美國消費業

The retail giant forecasts weaker sales沃爾瑪預期銷售額下降[Paragraph 1]“CHOICEFUL, DISCERNING, thoughtful” is how Walmart’s boss, Doug McMillon, described American consumers on February 21st, as he presented the retail behemoth’s quarterly results. 2月21日，沃爾瑪老板道格·麥克米倫在公布公司季度業績報告時，用“選擇多樣、眼光敏銳、思考深入”等詞來描述美國消費者。That may be so. What they aren’t, at least in aggregate, is frugal. 也許確實如此。但至少從總體來看，消費者并不節儉。Last year consumer spending shot up even as real disposable incomes declined by more than 6%. 去年，盡管實際可支配收入下降了6%以上，消費支出卻大幅增長。

America splurged on in January, shopping its way through a warm winter buoyed by 517,000 new jobs and a chunky inflation-linked bump in social-security cheques. 1月份，由于51.7萬個新增就業崗位和通貨膨脹相關的社保支票上漲這兩大原因，美國消費者在溫暖的冬季里大肆購物大肆消費。Retail sales rose by 3% month on month, and consumer sentiment reached its highest level in more than a year. 零售銷售環比增長了3%，消費者情緒達到了一年多以來的最高水平。Those looking for evidence of a “soft landing”, where the economy avoids a recession despite tighter monetary policy, found solace in the American consumer.那些尋找“軟著陸”證據的人在美國消費者身上找到了慰藉。“軟著陸”是指盡管貨幣政策趨緊，但經濟沒有陷入衰退的情況。

[Paragraph 2]On the surface, Walmart looks like exhibit A for the optimists. Its comparable sales in America grew by a brisk 8.3%, year on year. Look closer, though, and its results are full of warning signs. 在表面上看，沃爾瑪似乎是看漲者的最佳例證。其美國同比增長8.3％。然而，仔細分析一下，它的業績充滿了警示信號。沃爾瑪的食品雜貨市場份額增長的一個重要原因是，資金緊張的消費者（包括高收入者）從高檔超市轉向了經濟實惠的超市。

Its higher-margin discretionary range—toys, clothes, homeware and the like—did less well, despite heavy discounting to clear inventories overstocked as a result of a post-pandemic miscalculation about demand for certain goods. 由于后疫情時期對某些商品需求的錯誤估計而導致庫存擠壓，盡管對庫存進行了大量折扣清理，但其高毛利率的自主選擇商品（如玩具、服裝、家居用品等）的業績不佳。Worst of all, Walmart forecast sales growth of 2.5-3% for the current fiscal year, below analysts’ expectations.最糟糕的是，沃爾瑪預測本財年的銷售增長率為2.5-3%，低于分析師的預期。

[Paragraph 3]Other retailers tell a similar story, more poignantly. 其他零售商的情況也類似且更糟。The same day, Home Depot reported its seventh successive year-on-year drop in transaction volumes—and last quarter, for the first time, it was not offset by growth in the average size of transactions. 同一天，公司報告稱其交易量連續第7年同比下降，而上一季度，平均交易額的增長量也首次未能彌補下降量。

The home-improvement firm’s share price fell by more than 7% on the day. 當天，這家家居建材公司的股價就下跌了逾7%。And shoppers’ baskets may get lighter as the housing market wobbles: according to Barclays, a bank, the more the asking price for properties fall, the less consumers spend on an average trip to Home Depot.由于房地產市場的動蕩，購物者的購物籃可能會變得更輕盈：據巴克萊銀行稱，房價越低，購物者在家得寶的平均消費額就越低。

[Paragraph 4]Retailers’ margins were always likely to narrow after the covid-era blow-out. 零售商的利潤在疫情期間大幅增長，現在利潤勢必會收窄。盡管最嚴重的勞動力短缺問題已經得到緩解，但薪資仍然居高不下。In January Walmart announced pay rises that will raise its average hourly wage above $17.50. UBS, a bank, estimates that such moves will cost the company around $1bn a year. 沃爾瑪在1月份宣布加薪，將其平均每小時工資提高到17.50美元以上。瑞銀集團估計，這一舉措將每年給公司帶來約10億美元的額外成本。Home Depot said it would spend an extra $1bn on higher hourly wages for workers. 家得寶表示將額外投入10億美元用于提高員工的小時工資。

[Paragraph 5]更大的擔憂是消費需求可能會下降。The tailwind from strong household balance-sheets, fortified by covid-induced saving and government handouts, will not blow for ever. 疫情期間的儲蓄加上政府資金的支持，家庭資產負債表很漂亮，但這種順風外力不會一直存在。

According to Goldman Sachs, another bank, households have spent a third of their excess savings and will have spent another third by the end of 2023. 據高盛預測，家庭已經使用了1/3的，到2023年底，他們將花費另外1/3的過剩儲蓄。Firms that, like Home Depot and Walmart, flaunted their pricing power last year are now more careful, lest pricier wares scare shoppers away. 家得寶和沃爾瑪等這樣的公司在去年吹噓過它們的定價權，但現在變得更加謹慎，以免商品價格過高嚇跑顧客。Last week Kraft Heinz, a food giant, said it was mostly done raising prices this year. 上周，食品巨頭卡夫亨氏表示，它今年的大部分商品提價已經完成。

Even well-heeled buyers, who drove retailers’ sales growth in 2022, are feeling the heat, as Walmart’s success with them shows. 即使是富有的購買者，他們在2022年推動了零售商的銷售增長，現在他們也感到壓力。沃爾瑪的亮眼數據說明了這一點。It is all too easy to imagine Mr McMillon’s discerning shoppers turning into dispirited ones. 不難想象，麥克米倫所形容的“眼光敏銳的消費者”會變成“心灰意冷的購物者”。（恭喜讀完，本篇英語詞匯量552左右）原文出自：2023年2月25日《The Economist》Business版塊。

精讀筆記來源于：自由英語之路

本文翻譯整理: Irene

本文編輯校對: Irene僅供個人英語學習交流使用。

【補充資料】（來自于網絡）可比銷售額（comparable sales）是指對比同一銷售點在相同時間段內的銷售額，以評估銷售績效的指標。它通常用于零售業和餐飲業等行業，以了解一家企業或品牌在某一時間段內的業績表現。在零售業中，可比銷售額也可以用于計算每個店鋪的銷售增長率，以及比較同一時期內的銷售收入和毛利率等指標。

家得寶（Home Depot）是一家總部位于美國的家居建材零售公司，成立于1978年，是全球最大的家居建材零售商之一,美國第二大零售商。員工數量超過40萬人。公司銷售的產品包括建筑材料、電器、裝修用品、家具、燈具、廚房用品、園藝用品等。除了線下門店，家得寶還提供在線銷售和送貨服務。過剩儲蓄（Excess savings）是指個人或家庭儲蓄水平高于其正常支出水平的情況。這通常是由于收入增加、減少支出或限制消費行為等因素造成的。例如在疫情期間，由于疫情引起的封鎖和限制，許多人的支出水平受到了影響，例如旅游、娛樂、餐飲等方面的消費大幅減少。在此期間，許多人的儲蓄率大幅提高，因此出現了大量的"過剩儲蓄"。

【重點句子】（3 個）A big reason for its market-share gains in groceries was cash-strapped consumers, including high-income ones, trading down from fancier supermarkets. 沃爾瑪的食品雜貨市場份額增長的一個重要原因是，資金緊張的消費者（包括高收入者）從高檔超市轉向了經濟實惠的超市。Although the worst labour shortages have subsided, wages remain high. 盡管最嚴重的勞動力短缺問題已經得到緩解，但薪資仍然居高不下。A bigger worry is the potential drop-off in demand. 更大的擔憂是消費需求可能會下降。

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