Walmart to expand in China with 110 new stores
FMCG SUPPLIER NEWS
ChainStoreAge.com - Oct 29th, 08:31
Bentonville, Ark. – Wal-Mart Stores plans to open as many as 110 stores in China between 2014 and 2016, as well as several new Sam’s Club locations there. The new stores will employ as many as 19,000 people.
Wal-Mart also plans to open 30 stores and close 25 underperforming stores in China, where it currently operates 400 Wal-Mart locations and 10 Sam’s Club locations, by year’s end. The discounter also aims to remodel about 45 Chinese stores this year, 55 next year and 65 during the following year. Remodeling existing stores is intended to improve store operations and customer in-store experiences by optimizing the sales floor, improving parking and access as well as increasing the energy efficiency of facilities.
The retailer will continue expanding its Yihaodian Chinese e-commerce business and plans to eight to 16 new regional distribution centers in China to support expansion, reducing the need for direct supplier shipments. By end of next year, all stores will have access to ambient and chilled distribution network.
“China is a key strategic market for Walmart and we are very well positioned to serve the country’s emerging middle class with great products they can trust,” said Mike Duke, CEO of Wal-Mart. “Our management team is committed to continued growth in large and smaller cities across China, and doing it in the right way. Our investments in new stores, innovation, and retail supply chain will create jobs and support China’s plans for growth.”From ChainStoreAge.com
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