Wal-Mart Stores Inc. is expanding in China by adding as many as 110 stores between 2014 and 2016, Reuters reported Thursday, citing a company statement. Meanwhile, the world’s biggest retailer has closed 11 stores and plans to shutter 15 to 30 more outlets over the next 18 months, Wal-Mart China chief executive Greg Foran was quoted as saying. Wal-Mart also aims to further develop its e-commerce business in the country in line with Beijing’s urbanization program and strategy of promoting the middle class, Wal-Mart chief executive Mike Duke was quoted as saying. Globally, the company’s e-commerce business grew about 30 percent in the first half of the year, the report said.
– Contact HKEJ at [email protected]