Retailing, Franchising, and Consumerism Business Intelligence in China

Wal-Mart China To Add 500 Stores And Cloud Warehouses In Next Five To Seven Years

Wal-Mart China announced at its annual developer conference that over the next five to seven years, they plan to open 500 new stores and cloud warehouses, covering Wal-Mart Shopping Mall, Sam's Club, and community store.

Apart from opening new stores, the retailer will implement upgrade to 200 existing stores in the next three years. With diversified advantages of fresh food and owned brand, full-channel digital experience, and format change, they will highlight fresh, economical, and convenient.

Prior to this, Wal-Mart released its financial report for the third quarter of 2019 and its Chinese business continued to keep a strong growth of 6.3% by total sales and its growth rate of comparable sales was 3.7%, marking its best sales performance over the past five years.

With the dazzling financial report and its stable development strategy, Wal-Mart China attracted more than a dozen large developers and formed strategic partnerships with them during the developer conference.

Gu Jianzhang, senior vice president of Wal-Mart China Real Estate Development, said that Wal-Mart has entered the Chinese market for more than 20 years and it has been committed to become the most reliable retailer and provide products and services with the best quality and price to consumers.

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