16 September 2019

Wal-Mart looks to gain ground in Asia, WSJ says

Wal-Mart Stores Inc. said it has revamped its practices and legal compliance in the region and is considering acquisitions in China as the retailer faces headwinds in a cornerstone of its global expansion plans, the Wall Street Journal reported Sunday, citing a top executive. Wal-Mart’s sourcing practices in Bangladesh have been under the microscope after safety problems emerged at some factories there, Scott Price, the chief executive of Wal-Mart’s Asia division, was quoted as saying. The company also faces a stagnant economy in Japan, government restrictions and scrutiny in India and slowing traffic and stronger rivals in China. In other regions such as Brazil, where Wal-Mart has about 570 stores, the company has expanded more rapidly, the report said.

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