Wal-Mart clos­ing five more stores

China Daily (Canada) - - NEWSCAPSULE -

Wal-Mart Stores Inc is clos­ing five more stores in China this month as it seeks to re­po­si­tion it­self in a chal­leng­ing mar­ket.

Ear­lier this month, the United States-based com­pany, the world’s largest re­tailer by rev­enue, closed an out­let in Chongqing mu­nic­i­pal­ity and one store each in Yancheng, Jiangsu, and Changde, Hu­nan. By the end of this month, two stores in Ma’an­shan, An­hui prov­ince, will also be closed.

Last year, the re­tailer said it will con­tinue ex­pand­ing in China and open up to 110 new fa­cil­i­ties over the next three years, in­clud­ing hy­per­mar­kets and Sam’s Club out­lets, as well as dis­tri­bu­tion cen­ters. The com­pany has re­mod­eled about 45 stores this year. It will re­model 55 this year and 65 next year. (Photo 3)

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