Walmart plans to open 100 new stores in China over three years
Release Time:
2012-11-28 18:11
Source:
China General Chamber of Commerce
Walmart CEO Mike Duke announced on October 25 that Walmart plans to open 100 stores in China within three years, providing 18,000 jobs.
Regarding rumors that Walmart will increase the layout of small stores and supermarkets in China in the future, Mike Duke denied this. He stated that the 100 stores to be opened in China over the next three years will mainly focus on hypermarkets and Sam's Club formats.
Public information shows that Walmart's store opening speed in China has been rapidly expanding in recent years, with 51, 47, and 43 new stores opened in 2009, 2010, and 2011 respectively. In comparison, Carrefour opens about 25 stores annually on average, and TESCO around 17. Currently, Walmart has opened 379 stores in China.
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