Wal-Mart to open up to 110 new stores in China
NEW YORK — Wal-Mart Stores Inc. plans to open up to 110 new stores in China in the next three years while the world’s largest retailer seeks to make the business there more profitable.
Wal-Mart says it will focus on developing supercenters and Sam’s Clubs while remodeling existing stores.
As Wal-Mart expands in China, it’s also closing underperforming stores there. Last week, Wal-Mart, based in Bentonville, Ark., announced that it would close 20 to 25 stores in the fourth quarter and into the first quarter in China.
Wal-Mart operates about 400 stores in the country. It entered the Chinese market in Shenzhen in 1996.
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