Business Intelligence on Retailing, Franchising, and Consumerism in China


Wal-Mart To Shut 25 Underperforming Stores In China In 2014

Scott Price, president and chief executive officer of Wal-Mart Asia, revealed at an investor meeting that the company plans to close 25 underperforming stores in China during 2014.

Price further revealed that the sales of those 25 stores only accounted for 2.5% of Wal-Mart's total sales in China.

A representative from Wal-Mart China said after closing those underperforming stores Wal-Mart will be able to focus on core stores which are running better. The representative said Wal-Mart is committed to long-term investment and development in China and they will maintain quality growth. In addition, the company continuously improves their operating efficiency in China by upgrading stores; improving operations, procurement, and management; and enhancing price advantages and core competitiveness.

Prior to this, Wal-Mart said they planned to add more than 100 new outlets in China between 2013 and 2015. At present, this retailer has 398 stores in China. By the end of September, Wal-Mart opened 12 new stores in China in 2013 and closed four.







Image Credit: pcruciatti


Be the first to comment on "Wal-Mart To Shut 25 Underperforming Stores In China In 2014"

Leave a comment

Your email address will not be published.


*




  Other China News

ChinaTechNews.com:

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


GreenChinaTech:

Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center


ChinaSourcingNews.com:

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco