Walmart fights back

Walmart fights back

The beast ofBentonvillebattles Amazon, the king of the e-commerce jungle

本顿维尔（沃尔玛总部所在地）的巨兽来袭，挑战电商丛林里的王者-亚马逊

commerce

[不可数名词] trade, especially between countries; the buying and selling of goods and services （尤指国际间的）贸易；商业；商务

leaders of industry and commerce

工商界领导人

A boa constrictor swallowing capitalism. A cyclone dragging the economy into its vortex. If you look back at how people described Walmart a decade ago, it is eerily similar to how Amazon is viewed now. The supermarket chain has “a scale of economic power we haven’t encountered before”, warned “The Walmart Effect”, a best-selling book in 2006. But capitalism never stands still. The world’s largest company by sales is now the perceived underdog in an escalating grocery war with Amazon to fill 320m American bellies. The struggle will probably end in a messy stalemate. That will mean mediocre returns for investors—and happy days for consumers.

boa constrictor

a large S American snake that kills animals for food by winding its long body around them and crushing them 巨蚺（南美蟒，捕食时把猎物缢死）

capitalism

[不可数名词] an economic system in which a country's businesses and industry are controlled and run for profit by private owners rather than by the government 资本主义

cyclone

a violent tropical storm in which strong winds move in a circle 气旋；旋风

vortex

(pl. vortexes or, vortices |-tɪsi:z|)

(technical 术语) a mass of air, water, etc. that spins around very fast and pulls things into its centre 低涡；涡旋

(literary) a very powerful feeling or situation that you cannot avoid or escape from 感情（或局势）的旋涡

They were caught up in a whirling vortex of emotion.

他们陷入了感情旋涡。

eerie

strange, mysterious and frightening 怪异的；神秘的；恐怖的

an eerie yellow light

神秘兮兮的黄灯

I found the silence underwater really eerie.

我发觉水下的寂静真令人恐怖。

perceive

to notice or become aware of sth 注意到；意识到；察觉到

[动词 + 名词短语]

I perceived a change in his behaviour.

我注意到他举止有些改变。

[动词 (+ that从句)]

She perceived that all was not well.

她意识到并非一切都顺利。

[动词 + 名词短语 + 带to的不定式]

The patient was perceived to have difficulty in breathing.

发现病人呼吸困难。

~ sb/sth (as sth) to understand or think of sb/sth in a particular way 将…理解为；将…视为；认为

[动词 + 名词短语]

This discovery was perceived as a major breakthrough.

这一发现被视为一项重大突破。

She did not perceive herself as disabled.

她没有把自己看成残疾人。

[动词 + 名词短语 + 带to的不定式]

They were widely perceived to have been unlucky.

人们普遍认为他们的运气不佳。

underdog

a person, team, country, etc. that is thought to be in a weaker position than others and therefore not likely to be successful, win a competition, etc. 处于劣势的人（或团队、国家等）；弱者；比赛前不被看好者

Before the game we were definitely the underdogs.

我们在赛前绝对不被看好。

In politics, he was a champion of the underdog (= always fought for the rights of weaker people) .

在政治上，他总是为弱势群体奋斗。

escalate

~ (sth) (into sth) to become or make sth greater, worse, more serious, etc. （使）逐步扩大，不断恶化，加剧

[单独使用的动词]

The fighting escalated into a full-scale war.

这场交战逐步扩大为全面战争。

the escalating costs of health care

逐渐增加的医疗费用

[动词 + 名词短语]

We do not want to escalate the war.

我们不想让战争升级。

stalement

[不可数名词, 可数名词, 常用单数形式] a disagreement or a situation in a competition in which neither side is able to win or make any progress （辩论或竞赛中出现的）僵局，僵持局面

The talks ended in (a) stalemate.

谈判陷入僵局，无果而终。

[不可数名词, 单数] (in chess 国际象棋) a situation in which a player cannot successfully move any of their pieces and the game ends without a winner 僵局；和棋

mediocre

(disapproving) not very good; of only average standard 平庸的；普通的；平常的

a mediocre musician/talent/performance

平庸的音乐家 / 才能 / 表演

I thought the play was only mediocre.

我认为这部戏剧只是平庸之作。

Just when Walmart’s aura was at its most intimidating, in 2006, stagnation beckoned. Its reputation for bullying its suppliers and staff became toxic. Over the next decade it hit saturation point. About 95% of Americans shop at Walmart at least once a year. It has three square feet of shop space for every adult in the country and has sunk $83bn into a fixed-asset base that is the fourth-largest owned by any American firm. Investors have worried for years that this empire of aisles and tills run from Bentonville, Arkansas, would become obsolete—what did Walmart’s executives, schooled in the arts of beating up baked-beans suppliers, know about the slick world of e-commerce being dreamed up in Silicon Valley and Seattle?

aura

~ (of sth) a feeling or particular quality that is very noticeable and seems to surround a person or place 气氛；氛围；气质

She always has an aura of confidence.

她总是满有信心的样子。

intimidate

[动词 + 名词短语] ~ sb (into sth/into doing sth) to frighten or threaten sb so that they will do what you want 恐吓；威胁

They were accused of intimidating people into voting for them.

他们被控胁迫选民投他们的票。

She refused to be intimidated by their threats.

她没有被他们的威胁吓倒。

stagnation

to stop developing or making progress 停滞；不发展；不进步

Profits have stagnated.

利润原地踏步。

I feel I'm stagnating in this job.

我觉得，干这份工作我没有长进。

to be or become stagnant 因不流动而变得污浊

The water in the pond was stagnating.

池塘里的水逐渐变成了死水。

beckon

~ to sb (to do sth) to give sb a signal using your finger or hand, especially to tell them to move nearer or to follow you 招手示意；举手召唤

[单独使用的动词]

He beckoned to the waiter to bring the bill.

他招手示意服务生把账单送过来。

[动词 + 名词短语]

He beckoned her over with a wave.

他挥手让她过去。

The boss beckoned him into her office.

老板招手示意他去她的办公室。

[动词 + 名词短语 + 带to的不定式]

She beckoned him to come and join them.

她打手势要他来加入他们的活动。

to appear very attractive to sb 吸引；诱惑

[单独使用的动词]

The clear blue sea beckoned.

清澈蔚蓝的大海令人向往。

[动词 + 名词短语]

The prospect of a month without work was beckoning her.

一个月的闲暇时光令她神往。

[单独使用的动词] to be sth that is likely to happen or will possibly happen to sb in the future 很可能发生（或出现）

For many kids leaving college the prospect of unemployment beckons.

许多刚踏出大学校门的孩子可能面临着失业。

bully

[动词 + 名词短语] ~ sb (into sth/into doing sth) to frighten or hurt a weaker person; to use your strength or power to make sb do sth 恐吓；伤害；胁迫

My son is being bullied at school.

我儿子在学校里受欺负。

I won't be bullied into signing anything.

我绝不会屈服于压力签署任何东西。

【名词】

a person who uses their strength or power to frighten or hurt weaker people 仗势欺人者；横行霸道者

the school bully

学校里的恶霸学生

toxic

containing poison; poisonous 有毒的；引起中毒的

toxic chemicals/fumes/gases/substances

有毒的化学品 / 烟雾 / 气体 / 物质

to dispose of toxic waste

处理有毒废料

Many pesticides are highly toxic .

许多杀虫剂毒性很大。

obsolete

no longer used because sth new has been invented 淘汰的；废弃的；过时的

out of date

obsolete technology

过时技术

With technological changes many traditional skills have become obsolete.

随着技术的革新，许多传统技艺已被淘汰。

slick

(slicker, slickest)

(sometimes disapproving) done or made in a way that is clever and efficient but often does not seem to be sincere or lacks important ideas 华而不实的；虚有其表的；取巧的

a slick advertising campaign

华而不实的广告攻势

a slick performance

表面热闹但内容贫乏的演出

(sometimes disapproving) speaking very easily and smoothly but in a way that does not seem sincere 花言巧语的；能说会道的；油滑的

slick TV presenters

伶牙俐齿的电视节目主持人

a slick salesman

花言巧语的推销员

done quickly and smoothly 娴熟的；灵巧的；流畅的

The crowd enjoyed the team's slick passing.

观众欣赏了这支球队娴熟的传接配合。

a slick gear change

灵巧的换挡

smooth and difficult to hold or move on 滑；滑溜溜的

The roads were slick with rain.

下雨路滑。

More than you might think. This year Walmart’s shares have risen by40% on hopes that it has more than a fighting chance. It is clear that selling groceries online is very different from selling books. In food, penetration of e-commerce is low, at 2%, compared with 9% for all retail. Food is perishable. People will not Stuffit in their mouths unless they trust its provenance. They also want flexibility—to buy food in a store, to order online and pick it up themselves, or to have it delivered to their homes. So some physical infrastructure is helpful. “I wouldn’t want another set of assets,” Doug McMillon, Walmart’s boss, told the Economic Club of New York in November.

penetration

the act or process of making a way into or through sth 穿透；渗透；进入

The floor is sealed to prevent water penetration.

地板加了密封涂料防止渗水。

the company's successful penetration of overseas markets

公司对海外市场的顺利开拓

the act of a man putting his penis into his partner's vagina or anus （男人阴茎的）插入

perishable

(especially of food 尤指食物) likely to decay or go bad quickly 易腐烂的；易变质的

perishable goods/foods

易腐烂变质的商品 / 食物

provenance

|ˈprɒvənəns; 美 ˈprɑ:v-|

[不可数名词, 可数名词](technical 术语) the place that sth originally came from 发源地；起源；出处

All the furniture is of English provenance.

所有这些家具都是英国货。

There's no proof about the provenance of the painting (= whether it is genuine or not) .

这幅画的真伪无法鉴别。

infrastructure

|ˈɪnfrəstrʌktʃə(r)|

[可数名词, 不可数名词] the basic systems and services that are necessary for a country or an organization to run smoothly, for example buildings, transport and water and power supplies （国家或机构的）基础设施，基础建设

He has run Walmart’s businesses in Europe and Asia, where ecommerce for groceries is more developed. In 2016 Walmart spent $3bn buying Jet.com, an e-commerce firm whose boss,Marc Lore , now runs all Walmart’s online operations. Walmart has launched internet-based services such as “Easy reorder” and “Pickup discount” and formed a partnership with Latch, which lets its users open and lock their front doors remotely. On September 29th it acquired Parcel, a logistics startup. On December 6th it changed its legal name from Walmart Stores, to just Walmart.

logistics

|ləˈdʒɪstɪks|

[不可数名词+单数/复数 动词] ~ (of sth) the practical organization that is needed to make a complicated plan successful when a lot of people and equipment is involved 后勤；物流；组织工作

the logistics of moving the company to a new building

把公司搬迁到一座新大楼的过程中需要进行的组织工作

[派生词]

logistic

( also logistical |ləˈdʒɪstɪkl|)

adj.

logistic support

后勤支持

Organizing famine relief presents huge logistical problems.

组织饥荒救济工作涉及繁重的安排协调问题。

There are three reasons to be optimistic. First, Walmart’s performance has improved. In the most recent quarter, same-store sales rose by 2.7% year on year, and store traffic by 1.5%. Food sales increased at their fastest pace in six years. Sales from e-commerce represent only about 2% of the total but are rising at an annual rate of 50% (customers who shop online and in stores typically spend twice as much as those who only go to stores). Walmart has the second-most-downloaded retail app, after Amazon’s.

Second, Amazon’s behaviour is a backhanded compliment. In June it spent $14bn on Whole Foods, a mid-sized grocery chain, The deal brings Amazon more physical locations to sell, sort and dispatch goods. It also gives it trusted private-label brands, of the kind Walmart already has. If you type “spinach” into Amazon.com, bags of Whole Foods branded greenery appear.

backhanded

|ˌbækˈhændɪd|

having a meaning that is not directly or clearly expressed, or that is not intended 间接的；拐弯抹角的；有言外之意的

习语

a backhanded compliment

(US also left-handed compliment) a remark that seems to express admiration but could also be understood as an insult 隐含讥讽的恭维

dispatch

[动词 + 名词短语]

~ sb/sth (to…) (formal) to send sb/sth somewhere, especially for a special purpose 派遣；调遣；派出

Troops have been dispatched to the area.

部队已派往那个地区。

A courier was dispatched to collect the documents.

已派信使去取文件。

~ sth (to sb/sth) (formal) to send a letter, package or message somewhere 发出，发送（邮件、包裹、信息）

Goods are dispatched within 24 hours of your order reaching us.

订单到达我方24小时内发货。

(formal) to deal or finish with sb/sth quickly and completely 迅速处理；迅速办妥；迅速完成

He dispatched the younger player in straight sets.

他连续几盘迅速击败了那位比他年轻的选手。

(old-fashioned) to kill a person or an animal 杀死；处决

【名词】

[不可数名词](formal) the act of sending sb/sth somewhere 派遣；调遣；发送

More food supplies are ready for immediate dispatch.

更多的食品供应已备妥即刻发运。

[可数名词] a message or report sent quickly from one military officer to another or between government officials （军事人员或政府官员之间的）急件，快信

[可数名词] a report sent to a newspaper by a journalist who is working in a foreign country （驻外国记者发给报刊的）新闻报道，电讯

dispatches from the war zone

从战区发来的报道

with dispatch

(formal) quickly and efficiently 迅速而有效

spinach

|ˈspɪnɪtʃ; -ɪdʒ|

[不可数名词] a vegetable with large dark green leaves that are cooked or eaten in salads 菠菜

Lastly, the example of China points to a fusion of the online and physical worlds. In some ways the country is more advanced than America; e-commerce comprises 9% of grocery sales, according to Alliance Bernstein, a research firm. On November 20th Alibaba, an e-commerce giant, bought 36% of Sun Art Retail, a hypermarket retailer. Four of the six biggest Chinese supermarket chains have partnerships with e-commerce platforms. (Walmart, which has424 stores in China, has teamed up with JD.com.)

fusion

|ˈfju:ʒn|

[不可数名词, 单数] the process or result of joining two or more things together to form one 融合；熔接；结合

the fusion of copper and zinc to produce brass

铜与锌熔合成黄铜

The movie displayed a perfect fusion of image and sound.

这部电影展示了音响与影像的完美结合。

( also nuclear fusion) [不可数名词](physics 物) the act or process of combining the nuclei (= central parts) of atoms to form a heavier nucleus , with energy being released 核聚变；热核反应

[不可数名词] modern music that is a mixture of different styles, especially jazz and rock 合成音乐，混合音乐（尤指爵士乐和摇滚乐）

[不可数名词] cooking that is a mixture of different styles （各种方式的）混合烹调

French–Thai fusion

法泰式混合烹饪

The duel between Walmart and Amazon could go in two directions. It might escalate into a war across America, for both companies hate losing. Or each firm might conquer different geographical areas and demographic groups. Amazon could seize well-to-do cities, where population density is high and home delivery is more efficient. Walmart could continue to rule suburbia.

duel

a formal fight with weapons between two people, used in the past to settle a disagreement, especially over a matter of honour 决斗

to fight/win a duel

进行 / 赢得决斗

to challenge sb to a duel

要求与某人决斗

a competition or struggle between two people or groups （双方的）竞争，斗争

a verbal duel

舌战

demographic

|dɪˈmɒgrəfi; 美 -ˈmɑ:g-|

[不可数名词] the changing number of births, deaths, diseases, etc. in a community over a period of time; the scientific study of these changes 人口统计；人口统计学；人口学

the social demography of Africa

非洲社会人口统计

suburbia

|səˈbɜ:biə; 美 -ˈbɜ:rb-|

[不可数名词](often disapproving) the suburbs and the way of life, attitudes, etc. of the people who live there 郊区及其居民的生活方式（或态度等）

Either way, margins will probably be squeezed as Amazon throws money at the fight with its customary abandon. Mr McMillon knows this. “One of the challenges at Walmart is that we don’t have free money—we are expected to make a profit,” he says. The danger is that it overestimates how much physical presence it needs. If it went back to its position in 2006, it could cut its domestic asset base by34% and still have 90% of Americans within 15 miles of a store. For every dollar of sales, it has twice as many square feet of sales and distribution space as Amazon’s retail operation (including Whole Foods). If Mr McMillon is brave he will sell store sand return capital to investors. Walmart needs to make its balance-sheet leaner.

margin

[可数名词]

the empty space at the side of a written or printed page 页边空白；白边

the left-hand/right-hand margin

左 / 右页边

a narrow/wide margin

窄 / 宽空白边

notes scribbled in the margin

随手写在页边上的笔记

[常用单数形式] the amount of time, or number of votes, etc. by which sb wins sth （获胜者在时间或票数上领先的）幅度，差额，差数

He won by a narrow margin .

他以微小的差额获胜。

She beat the other runners by a margin of ten seconds.

她以领先十秒的优势战胜了其他赛跑者。

(business 商) = profit margin

What are your average operating margins?

你的平均营业利润率是多少？

a gross margin of 45%

45%的毛利

[常用单数形式] an extra amount of sth such as time, space, money, etc. that you include in order to make sure that sth is successful 余地；备用的时间（或空间、金钱等）

a safety margin

安全距离

The narrow gateway left me little margin for error as I reversed the car.

门口狭窄，弄得我倒车时几乎不能出任何差错。

(formal) the extreme edge or limit of a place 边缘；极限；界限

the eastern margin of the Indian Ocean

印度洋的东岸

[常用复数] the part that is not included in the main part of a group or situation 边缘部分；非主体部分

people living on the margins of society

生活在社会边缘的人

(Australian English,New Zealand English) an amount that is added to a basic wage, paid for special skill or responsibility （基本工资以外的）技术津贴，职务补贴

capital

A.CITY 城市

( also capital city) [可数名词] the most important town or city of a country, usually where the central government operates from 首都；国都

(figurative)Paris, the fashion capital of the world

巴黎——世界时装之都

Cairo is the capital of Egypt.

开罗是埃及的首都。

B.MONEY 金钱

[单数] a large amount of money that is invested or is used to start a business 资本；资金；启动资金

to set up a business with a starting capital of £100 000

以10万英镑为启动资金创办一个企业

[不可数名词] wealth or property that is owned by a business or a person 财富；财产

capital assets

资本资产

capital expenditure (= money that an organization spends on buildings, equipment, etc.)

资本投资

[不可数名词](technical 术语) people who use their money to start businesses, considered as a group 资方

capital and labour

资方与劳方

C.LETTER 字母

( also capital letter) [可数名词] a letter of the form and size that is used at the beginning of a sentence or a name (= A,B,C rather than a,b,c) 大写字母

Use block capitals (= separate capital letters) .

使用大写字母。

Please write in capitals/in capital letters .

请用大写字母书写。

D.ARCHITECTURE 建筑

the top part of a column 柱顶；柱头

习语

make capital (out) of sth

to use a situation for your own advantage 从…中捞取好处；利用…谋求私利

The opposition parties are making political capital out of the government's problems.

各反对党都在利用政府存在的问题捞取政治资本。

What’s in store for Amazon

Walmart is probably the most formidable adversary Amazon has ever faced. Disrupting the music, book and media industries, each knownfor their Corinthian spirit and long lunches,was child’s play compared with taking on Walmart, with its fanatical commitment to low prices.

formidable

|ˈfɔ:mɪdəbl; fəˈmɪd-; 美 ˈfɔ:rm-; fərˈm-|

if people, things or situations are formidable , you feel fear and/or respect for them, because they are impressive or powerful, or because they seem very difficult 可怕的；令人敬畏的；难对付的

In debate he was a formidable opponent.

在辩论中他是位难应付的对手。

She has a formidable list of qualifications.

她有一长串令人敬畏的资历。

The two players together make a formidable combination.

这两个队员配对儿，难以对付。

The task was a formidable one.

这任务非常艰巨。

They had to overcome formidable obstacles.

他们得克服重重障碍。

adversary

|ˈædvəsəri; 美 -vərseri|

(formal) a person that sb is opposed to and competing with in an argument or a battle （辩论、战斗中的）敌手，对手

Walmart’s history is also a warning. If you examine the two companies’ financials, Amazon today looks almost identical to Walmart in 1999. It has annual salesof$160bn or so, low margins, fast growth, a ballooning asset base and massive capital investment. The firm’s managers are on a high and investors have dizzying expectations for the future. But for the ten years after 1999, Walmart’s share price was as flat as a pancake, because all the good news was already baked in.The actual business of world dominationturned out to be a long, hard slog.

slag

(informal)

~ (through sth) | ~ (away) (at sth) to work hard and steadily at sth, especially sth that takes a long time and is boring or difficult 埋头苦干；坚持不懈地做

[单独使用的动词]

He's been slogging away at that piece of music for weeks.

他苦练那段乐曲已有好几个星期了。

[动词 + 名词短语]

She slogged her way through four piles of ironing.

她辛辛苦苦一连熨了四堆衣服。

[动词 + 副词或介词短语] to walk or travel somewhere steadily, with great effort or difficulty 顽强地走；奋力前行；艰难行进

He started to slog his way through the undergrowth.

他踏上了穿越林莽的艰难征程。

I've been slogging around the streets of London all day.

整整一天，我一直在伦敦街头走来走去。

[动词 + 名词短语, 单独使用的动词, usually + 副词或介词短语] to hit a ball very hard but often without skill 猛击，笨拙地猛击（球）

【名词】

[不可数名词, 可数名词, 常用单数形式] a period of hard work or effort 一段时间的艰苦工作（或努力）

Writing the book took ten months of hard slog.

这本书是苦熬十个月写出来的。

It was a long slog to the top of the mountain.

到山顶的路漫长而艰难。