Wal-Mart expands Chinese business
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Wal-Mart is to expand its presence in China by buying a 35% stake in discount store chain Trust-Mart.
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Wal-Mart Stores, the worldâs No.1 retailer, said the number of its China stores would be lifted by at least 15 new stores with the total of around 45 outlets throughout China.
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The expanded program offers free services to Chinese consumers and small businesses.
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Wal-Mart has seen a larger number of customers in its US stores over the past week as all-important holiday shopping improved. The world&#39;s biggest retailer said that its general merchandise sales picked up as the week progressed.
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But the chain, which is the nationâs largest consumer electronics retailer, said it would keep investing in new stores, including as many as 25 in China.
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China's Communist Party-controlled union is ready to help Wal-Mart Stores Inc. set up union branches at its Chinese outlets "as soon as possible," reports and union officials said Thursday.
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Wal-Mart Stores Inc. plans to open or expand 40 to 45 discount stores and 240 to 250 Supercenters in the United States next year as the world&#39;s largest retailer continues an aggressive expansion plan.
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HONG KONG/NEW YORK  - Wal-Mart Stores Inc., the world's biggest retailer, will pay about $1 billion to take over a Chinese chain, challenging Carrefour as the largest operator of super-centers in booming China.
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Wal-Mart Stores Inc., the world&#39;s largest retailer, met Wall Street expectations with a 12.7 percent rise in its third-quarter earnings Tuesday and bumped up its own projection for the full year&#39;s profit.
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Philip Ehrmann, whose Gartmore China Opportunities Fund rose 14.7 percent during the past three months, is boosting his investment in Chinese retailers such as Wumart Stores Inc., anticipating that China's will remain the world's fastest-growing economy in 2005.
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Southeast Asia&#39;s largest property developer CapitaLand Ltd. said Thursday it is teaming up with a Chinese state-linked group to buy and manage a slew of mainland shopping malls whose tenants include Wal-Mart Stores Inc.
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NEW YORK -- Wal-Mart Stores Inc. , the world's largest retailer, plans to expand its financial-service centers more than fourfold to 1,000 stores by 2009 after abandoning an attempt to start a bank.
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Wal-Mart Stores Inc. is expanding its national $4 generic prescription drug program by about 10 percent, adding drugs for some new conditions.
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Wal-Mart Stores Inc  said on Wednesday it would increase technology activities in India, as it seeks to expand its remote sourcing model.
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Wal-Mart plans to open 18 new stores in China by the end of next year, as new rules permit foreign retailers to expand into smaller inland cities.
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Wal-Mart Stores  shares and options volatility ticked up on Friday on rumors that government-sponsored investment funds from China and Singapore may be eyeing the retailer's stock, U.S. and U.K. market sources said.
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Wal-Mart is buying a 35 percent stake in a company that operates Trust-Mart, a major Chinese discount chain, as international competitors jostle for position in China's rapidly growing retail market.