The world’s biggest retailer, Walmart, reportedly plans to add 115 stores in China after earlier missteps in the massive market. It currently has more than 400 stores and the opening would represent an increase of more than 25 per cent, Bloomberg News quoted a statement as saying on Wednesday. The new outlets will include both “supercentres” and members only Sam’s Club stores. The US retailer will also spend 370 million yuan (A$76.06 million) to renovate around 50 existin
g stores in China, the report said.
“China is a key strategic market for Walmart,” it quoted CEO, Doug McMillon, as saying at a briefing in Beijing.
“Over the next three years, we will increase investment across our diverse business operations in China.”
Walmart owns a stake in a popular Chinese online grocer Yihaodian but its own stores have faced strong competition.
Last year, Walmart tightened inspections on its suppliers in China, after it was forced to recall a “Five Spice Donkey Meat” product sold domestically which was found to contain fox instead.
In an earlier case dating to 2011, Chinese authorities forced the temporary shut down of 13 Walmart stores in Chongqing over violations which included pork falsely labelled as organic.
AFP
