经济学人243:加拿大零售业 药品生意

　　Business
商业报道
Canadian retailing²
加拿大零售业
Drug deal
药品生意
A merger³ to see off an American challenge
实行兼并抗衡美国的挑战
THEY met on July 11th in a minivan on a country road.
7月11号，维斯顿·佳林，加拿大零售王朝的孙子和科库至·霍尔格，
When they emerged Galen Weston, scion⁵ of a Canadian retailing dynasty, and Holger Kluge, chairman of the country's biggest drugstore chain, had made a deal.
乡村最大的药品连锁店董事长在一条乡村道路上的小货车里见了面并达成协议。
The Weston group's Loblaw grocery chain, by far Canada's largest,agreed to buy Shoppers Drug Mart for 12.4 billion.
维斯顿集团的罗伯劳连锁店，作为加拿大目前最大的食品杂货连锁店，同意以12.4亿加拿大元的价格购买其康药房。
With this, the relatively⁶ cosy⁷ world of Canadian retailing comes of age.
随着此合同的签订，加拿大零售业迎来一个比较舒适的氛围。
To global retailers⁸ accustomed to merciless competition Canada is appealingly civilised.
相对于国际零售商惯于的残酷竞争，加拿大则更偏向于文明的请求。
Unlike Americans and Europeans, Canadians have not been hammered by a housing bust⁹.
不同于美国和欧洲，加拿大没有受到房地产泡沫的打击，
11111111111111_副本.jpgFewer big grocery chains are fighting for market share than they are south of the border.
很少有大的百货公司连锁店像他们南边的邻居一样在争取市场份额时那么努力。
Compared with the United States, Canada has about 60% of the retail¹ floor space per consumer and profit margins¹⁰ are higher.
加拿大有美国60%的人均零售面积但利润却更大。
But things are becoming less comfortable.
但是，事情开始变得有点不乐观。
Target, an American discount chain, moved into Canada this year, joining Walmart, a behemoth that has been there since 1994.
塔吉特公司，一家美国的折扣连锁店，今年加盟沃尔玛，进入加拿大。沃尔玛，自1994年就进入加拿大的大公司。
Safeway, another American grocer,pulled out in June,
西弗伟公司，另一家美国百货公司，则在6月份退出。
but only because a Canadian rival, Sobeys, made an irresistible¹¹ offer for its stores.
原因不仅因为加拿大内部的竞争，超市也为他的商店提供了令人不可抗拒的价格。
Clothes retailing is getting more crowded, too.
服装零售业也人满为患，
J.Crew arrived in 2011 and Nordstrom, an American department-store chain, is expected in 2014.
J·克鲁2011年进入加拿大，诺斯通，一家美国连锁百货商场有望2014年进入。
All this is happening as consumers are becoming less cheery: economic growth is sluggish¹² and debt is high.
面对这些，由于经济萧条，债台高筑，消费者越来越不怎么乐观。
Century-old Loblaw is part of the Weston family's transatlantic empire, which ranges from food manufacturing to the Selfridges and Fortnum & Mason department stores in Britain.
世纪公司罗伯劳是维斯顿家族横跨大西洋帝国的一部分。在英国，它涉及食品制造到塞尔福里奇和福特纳姆&梅森百货商店。
Loblaw hit a rough patch in the mid-2000s, when it briefly¹³ fell into loss.
罗伯劳公司经营曾在20世纪中叶的时候亮过红灯，陷入短暂的亏损之中。
But it has since streamlined operations and upgraded its technology.
但是从那时起，它就精简业务，提高科技。
Shoppers Drug Mart has built its network steadily¹⁴ over the past half-century.
其康药房在上半个世纪里建立了稳定的商业网。
The merged⁴ group, with sales of C42 billion, is in part a counter to the American onslaught.
合并之后的集团，售价高达420亿加拿大元，在某种程度上，是对美国冲击的一种反击。
Shoppers will remain a separate unit and keep its top managers.
商店依然是独立的单元，并保留其高级管理者。
Even so, the partners expect to save C135m on annual technology and marketing¹⁵ costs.
即使如此，合伙者希望每年能在科技和市场上节省13.5亿加拿大元。
More important, says Ken¹⁶ Wong, who teaches business strategy at Queen's University in Ontario, is the opportunity for both chains to wring¹⁷ more from their private-label product lines and loyalty¹⁸ programmes.
王肯，安大略洲皇后大学商业策略讲师说，更重要是两个连锁店有机会从自有品牌和客户忠诚上赚取更多。
By Canadian standards they are adept¹⁹ marketers of their own ranges.
按照加拿大标准，他们在各自的领域里是熟练的经销商。
But Canada lags private-label powerhouses such as Britain and Switzerland.
但在，加拿大在自有品牌上落后于其他强手，比如英国和瑞士。
There is much to be gained from selling Shoppers' “Life” range of mouthwashes and plasters in Loblaw's groceries and pushing Loblaw's “President's Choice” food in Shoppers' pharmacies²⁰, says Mr Wong.
王先生说，在罗伯劳的百货店销售生活用品，从漱口水到药膏，在其康药房促销“总统的选择”的食物有很大的好处。
Loblaw's loyalty programme will get a boost from merging²¹ with Shoppers' superior scheme and both will gain from having a bigger data lode²² to mine.
和其康合并的方案，会让罗伯劳的客户忠诚项目参与人数大增，双方都会有一个更大数据脉矿开发。
The deal will mark the arrival in Canada of another global fad²³.
这个决议标志加拿大另一个全球风尚的到来。
Until now Canadian grocers have largely ignored the trend in other rich countries to open “convenience” shops in the neighbourhoods where their customers live.
目前加拿大百货店已经很大程度上忽视了在其他发达国家有客户居住的社区开便利店的趋势。
The acquisition of Shoppers' 1,242 stores, which are mainly smallish outlets²⁴ in cities and towns, provides Loblaw with a full-fledged convenience chain at a stroke.
超市的1,242家分店，多为市镇的小网点，这为罗伯劳公司的反击提供了充分的便利链。
It places Loblaw “at the front of the pack”, says Kenric Tyghe of Raymond James, a financial-advice firm.
金融咨询公司瑞士金融集团的Kenric Tyghe 说，合并让罗伯劳公司走在前列。
The stockmarket likes the deal:
股票市场看好这个交易：
shares of both companies jumped on the news.
消息传出之后两家公司的股票都上涨了，
So did those of rivals Metro²⁵, a supermarket, and Jean Coutu, a drugstore chain.
股票上涨的还有他们的对手一个超级市场和一个连锁药店，尚酷都。
Investors²⁶ are speculating that these two will join to form another Canadian champion. That is unlikely to deter²⁷ further incursions from across the border.
投资者认为这两个公司的联合会形成一个新的加拿大冠军并有可能阻止国外进一步的打击。
1.see off 送行，送别
There is no reason why they cannot see off the Republican challenge.
他们没有理由在共和党的挑战中败北。
2.agree to do sth 同意做某事
Persuade sb to agree to sth or to do sth which he first opposed.
说服某人同意或做其原先反对的事。
3.compared with 相比
After the scans, the information was compared with a biometric database.
扫描过后所得出的信息将于生物识别数据库中的资料进行核对。
4.pull out 拔出；退出；离开
She pulled out into the street...
她开车来到大街上。

1 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

2 retailing   

n.零售业v.零售(retail的现在分词)

参考例句：

• career opportunities in retailing 零售业的职业机会
• He is fond of retailing the news. 他喜欢传播消息。 来自《简明英汉词典》

3 merger   

n.企业合并，并吞

参考例句：

• Acceptance of the offer is the first step to a merger.对这项提议的赞同是合并的第一步。
• Shareholders will be voting on the merger of the companies.股东们将投票表决公司合并问题。

4 merged   

（使）混合( merge的过去式和过去分词 )； 相融； 融入； 渐渐消失在某物中

参考例句：

• Turf wars are inevitable when two departments are merged. 两个部门合并时总免不了争争权限。
• The small shops were merged into a large market. 那些小商店合并成为一个大商场。

5 scion   

n.嫩芽，子孙

参考例句：

• A place is cut in the root stock to accept the scion.砧木上切开一个小口,来接受接穗。
• Nabokov was the scion of an aristocratic family.纳博科夫是一个贵族家庭的阔少。

6 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

7 cosy   

adj.温暖而舒适的，安逸的

参考例句：

• We spent a cosy evening chatting by the fire.我们在炉火旁聊天度过了一个舒适的晚上。
• It was so warm and cosy in bed that Simon didn't want to get out.床上温暖而又舒适，西蒙简直不想下床了。

8 retailers   

零售商，零售店( retailer的名词复数 )

参考例句：

• High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
• Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。

9 bust   

vt.打破；vi.爆裂；n.半身像；胸部

参考例句：

• I dropped my camera on the pavement and bust it. 我把照相机掉在人行道上摔坏了。
• She has worked up a lump of clay into a bust.她把一块黏土精心制作成一个半身像。

10 margins   

边( margin的名词复数 )； 利润； 页边空白； 差数

参考例句：

• They have always had to make do with relatively small profit margins. 他们不得不经常设法应付较少的利润额。
• To create more space between the navigation items, add left and right margins to the links. 在每个项目间留更多的空隙，加左或者右的margins来定义链接。

11 irresistible   

adj.非常诱人的，无法拒绝的，无法抗拒的

参考例句：

• The wheel of history rolls forward with an irresistible force.历史车轮滚滚向前，势不可挡。
• She saw an irresistible skirt in the store window.她看见商店的橱窗里有一条叫人着迷的裙子。

12 sluggish   

adj.懒惰的，迟钝的，无精打采的

参考例句：

• This humid heat makes you feel rather sluggish.这种湿热的天气使人感到懒洋洋的。
• Circulation is much more sluggish in the feet than in the hands.脚部的循环比手部的循环缓慢得多。

13 briefly   

adv.简单地，简短地

参考例句：

• I want to touch briefly on another aspect of the problem.我想简单地谈一下这个问题的另一方面。
• He was kidnapped and briefly detained by a terrorist group.他被一个恐怖组织绑架并短暂拘禁。

14 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。

15 marketing   

n.行销，在市场的买卖，买东西

参考例句：

• They are developing marketing network.他们正在发展销售网络。
• He often goes marketing.他经常去市场做生意。

16 ken   

n.视野，知识领域

参考例句：

• Such things are beyond my ken.我可不懂这些事。
• Abstract words are beyond the ken of children.抽象的言辞超出小孩所理解的范围.

17 wring   

n.扭绞；v.拧，绞出，扭

参考例句：

• My socks were so wet that I had to wring them.我的袜子很湿，我不得不拧干它们。
• I'll wring your neck if you don't behave!你要是不规矩，我就拧断你的脖子。

18 loyalty   

n.忠诚，忠心

参考例句：

• She told him the truth from a sense of loyalty.她告诉他真相是出于忠诚。
• His loyalty to his friends was never in doubt.他对朋友的一片忠心从来没受到怀疑。

19 adept   

adj.老练的，精通的

参考例句：

• When it comes to photography,I'm not an adept.要说照相，我不是内行。
• He was highly adept at avoiding trouble.他十分善于避开麻烦。

20 pharmacies   

药店

参考例句：

• Still, 32 percent of the pharmacies filled the prescriptions. 但仍然有32%的药剂师配发了这两张药方。 来自互联网
• Chinese herbal pharmacies, and traditional massage therapists in the Vancouver telephone book. 中药店，和传统的按摩师在温哥华的电话簿里。 来自互联网

21 merging   

合并（分类）

参考例句：

• Many companies continued to grow by merging with or buying competing firms. 许多公司通过合并或收买竞争对手的公司而不断扩大。 来自英汉非文学 - 政府文件
• To sequence by repeated splitting and merging. 用反复分开和合并的方法进行的排序。

22 lode   

n.矿脉

参考例句：

• We discovered the rich lode bellied out.我们发现丰富的矿脉突然增大了。
• A lode of gold was discovered。他们发现了一处黄金矿藏。

23 fad   

n.时尚；一时流行的狂热；一时的爱好

参考例句：

• His interest in photography is only a passing fad.他对摄影的兴趣只是一时的爱好罢了。
• A hot business opportunity is based on a long-term trend not a short-lived fad.一个热门的商机指的是长期的趋势而非一时的流行。

24 outlets   

n.出口( outlet的名词复数 )；经销店；插座；廉价经销店

参考例句：

• The dumping of foreign cotton blocked outlets for locally grown cotton. 外国棉花的倾销阻滞了当地生产的棉花的销路。 来自《简明英汉词典》
• They must find outlets for their products. 他们必须为自己的产品寻找出路。 来自《现代汉英综合大词典》

25 metro   

n.地铁；adj.大都市的；(METRO)麦德隆(财富500强公司之一总部所在地德国，主要经营零售)

参考例句：

• Can you reach the park by metro?你可以乘地铁到达那个公园吗？
• The metro flood gate system is a disaster prevention equipment.地铁防淹门系统是一种防灾设备。

26 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

27 deter   

vt.阻止，使不敢，吓住

参考例句：

• Failure did not deter us from trying it again.失败并没有能阻挡我们再次进行试验。
• Dogs can deter unwelcome intruders.狗能够阻拦不受欢迎的闯入者。