based on this case study can you answer question number 1

1. The case highlights that 'Budgetmart's mistakes in Canada damaged its reputation and the company withdrew from Canada in 2013'. If you were the CEO of Budegtmart, would you close down the Canada operations? Explain your reasons.

please state the references thank you

oo BUDGETMART BUDGETMART CASE STUDY Appendix A Background Budgetmart, U.S. discount retailing was established in 1980s by John Victor near Norwalk, California. Budgetmart operates in more than 1,200 locations around the country. The firm has carefully developed its brand image, which focuses on offering goods at reasonable rates. The company's success can be attributed in part to its ability to offer stylish, branded products at discount pricing while also providing first-rate customer service. The firm's motto illustrates its dedication to this: "Except More, Spend Less, Save Money". Dilemma In 2010, Budgetmart decided to enter Canadian market. During that time, cross-border shopping is popular in Canada and most of Canada consumers knew American Budgetmart. Hence, this contributed to Budgetmart's decision to enter that market. Budgetmartt's entry into the Canadian retail market was dreaded by many competing retailers. Budgetmart announced an uncharacteristically bold international expansion plan in hopes to take the Canadian market by storm. However, the American retail behemoth announced its exit from the Canadian market in December 2013, three years after Budgetmart first entered the country, resulting in a $3 billion net loss and the loss of almost 10,000 jobs.The firm did not regard its Canadian location as a newcomer that needed to entice customers away from rival retailers, but rather handled them the same as its operating stores in the U.S. The firm did not take into consideration of unique geographical, linguistic differences and government rules and regulation in Canada. Many Canadians were frustrated by Budgetmart operations: - "The stores were smaller than typical "Many of the stylish and exclusive U.S store. Many of the stores were in brands did not fit the customers low-traffic areas, far away from us". here". "Their expansion was fast, launched "Operations were awfully sloppy - 100 stores and hired 15,000 poorly run that empty store shelves employees in Canada in just two were common." years". What's Next? The demise of Budgetmart's venture into Canada brings home the risks of international expansion, even into a market that is so close to home and seemingly so similar to the US. However, with the lesson learned from the demise, the company has an opportunity to expand internationally to increase sales and improve brand awareness. LOUF BUDGETMART