Wal-Mart to Open 100 Stores in China
Mike Duke, president and chief executive officer of Wal-Mart, said in Beijing on Thursday that the company will prioritize large-store formats, such as hypermarkets, and its members-only stores, known as Sam's Club.
"We are pleased that Wal-mart will be growing in China with 100 additional stores over the next three years," Duke said.
He did not reveal the specific locations of the stores.
The company, which entered the Chinese mainland in 1996, had 370 stores as of March.
The company also said that it will add more distribution centers in the next three years to modernize its supply chain.
Walmart's expansion plans are less ambitious than previously announced targets, but the company is still planning to grow faster in China than some of its international rivals.
Source: chinadaily.com.cn
