Walmart Plans to Double Its Footprint in China with 500 New Stores
Walmart recently announced plans to more than double its footprint in China over the next five to seven years with 500 new stores. Despite its economic slowdown, China is still expected to become the world’s biggest grocery market in just a few more years. Walmart’s sales in China grew 6.3% during the last quarter. That’s an impressive number when you consider its worldwide sales growth: 2.5%.
Walmart is leveraging “multi-format strategies to bring customers freshness, value and convenience,” James Ku, a senior vice president with Walmart China, said in a statement on Thursday.