Walmart International focusing on growing existing business
Thu, 04/12/2012 - 12:46 EDT - Financial Post
Wal-Mart Stores Inc. is focused on improving results in China and other foreign countries where it already operates, its top international executive said on Thursday, with a special emphasis on expansion in Canada
(Reuters) - Wal-Mart Stores Inc is focused on improving results in China and other foreign countries where it already operates, rather than on entering new markets, its top international executive said on Thursday.
Wal-Mart Stores, Inc. (WMT) announced yesterday that it is launching its own money-transfer service on April 24, 2014. The service, dubbed Walmart-2-Walmart, offers direct competition to The Western Union Company (WU) and MoneyGram International Inc (MGI), two dominant players in the money transfer business.
By Nandita Bose and Adam RoseMUMBAI/BEIJING (Reuters) - Wal-Mart Stores Inc, famed for its low prices, has stumbled in the one major market where consumers say price is less of a driver in their buying decisions: China.
The final days of Wal-Mart Stores Inc. (Wal-Mart) suggest a moment may soon arrive when Wal-Mart has no remaining way to increase profit since it has saturated all possible markets. Its growth will cease when the cost for creating the next sale results in a loss.
Wal-Mart Stores Inc named the head of its international division, Doug McMillon, to replace Chief Executive Mike Duke, who will retire on Jan. 31 after five years at the helm of the world’s largest retailer.
McMillon, a 47-year-old Wal-Mart veteran, will take charge after the holiday shopping season at a time when the company is facing intense competition from dollar stores and other discounters, such as Target Corp.