Oct 24

Walmart Plans To Open Up To 110 New Stores In China By 2016

Posted in: Today's Chili

BEIJING (Reuters) – Wal-Mart Stores Inc , the world’s biggest retailer, is expanding its China business as it seeks to raise profitability in a slowing retail sector.

Wal-Mart will open up to 110 facilities in China between 2014 and 2016, in addition to the 30 it has already opened this year, it said at a press event in Beijing on Thursday.

Wal-Mart has closed 11 stores and is looking to close 15-30 others over the next 18 months, said Greg Foran, chief executive of Wal-Mart China, in what he called part of a rationalization process.

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