Wal-Mart to expand China business by opening up to 110 facilities by 2016

Reuters

BEIJING, Oct 23 (Reuters) - Wal-Mart Stores Inc,the world's biggest retailer, is expanding its China business asit seeks to raise profitability in a slowing retail sector.

Wal-Mart will open up to 110 facilities in China between2014 and 2016, it said at a press event in Beijing on Thursday.

The U.S. company said it has closed 11 stores in China andwill seek to close as many as 30 others to reshape its business.

Walmart operates more than 400 retail hypermarkets, Sam'sClub stores, and distribution centres in more than 160 citiesthroughout China.

Rates

View Comments (7)