Wal-Mart plans 100 more China stores in 3 years
Posted: October 26, 2012 at 9:42 a.m.
Bentonville-based Wal-Mart Stores Inc. said Friday that starting next fiscal year, it plans to establish about 100 new stores and Sam’s Clubs in China over three years.
The retailer also plans to invest in logistics infrastructure and add 18,000 jobs in China to support the store growth, according to a statement from Walmart International President and Chief Executive Officer Doug McMillon.
“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,” McMillon said in the statement.
The company said it currently employs about 100,000 workers at 382 stores in China.