The world’s largest retailer is ramping up its presence in the world’s largest country.
Wal-Mart said in the next 3 years it will add 100 new stores and Sam’s Clubs in the most populous nation on the planet.
“Walmart believes strongly that the Chinese retail industry has great potential thanks to economic growth, expansion of the middle class, fast urbanization and government policies to further boost domestic demand as stipulated in the 12th Five Year Plan,” said Doug McMillon, Walmart International President and CEO.
“Beginning next fiscal year, Walmart will establish approximately 100 new stores and Sam’s Clubs over the next three years. We also will invest in logistics infrastructure. We plan to add 18,000 jobs in China to support this store growth,” McMillon added.
Currently, Wal-Mart employs approximately 100,000 workers in China and operates 382 stores as of September 30, 2012.
On Thursday, the Bentonville-based retail giant announced a goal to advance its sustainability initiatives in China and worldwide.
Wal-Mart said its global suppliers have until 2017 to comply with its sustainability initiative or risk losing shelf space. Read more here.
Latest posts by Roby Brock (see all)
- 1 Million Cups Features Treatsie, SumoText In First Session - April 16, 2014
- Simmons First Shareholders Recap Year Of Transition - April 16, 2014
- Cotton Challenges Pryor To Series Of 5 Regional Debates (UPDATED) - April 13, 2014