Walmart's China Expansion Aims to Tap Urbanization
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Wal-Mart Stores plans to ramp up operations in China’s smaller cities, adding as many as 110 stores during the next three years as the world’s largest retailer faces stiff competition from local players. Other key changes to make it more competitive include expanding its fresh foods and adding new distribution centers like the one in Shenyang set to open next month.
“Of all the individual countries we have the opportunity to grow in, China would be the top of the list,” said Doug McMillon, president and chief executive officer of Walmart International, during a press briefing in Beijing on Thursday. “We have a tremendous opportunity given the population and the size of this market and the continued growth over time.”