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.
Three senior executives, including the CFO and COO, have left Walmart China in the past month. The most recent exit, that of SVP Shawn Gray, was announced on Friday by the company in an e-mail.
By Osman Gulseven:Wal-Mart Stores, Inc. (WMT) is the largest retailer in the world, operating in several countries. The company's U.S. segment operates through discount stores, supercenters, as well as walmart.com. Wal-Mart International has additional retail channels, such as hypermarkets, restaurants, apparel stores, Sam's Clubs, and other online retail centers.
By Osman Gulseven:
Wal-Mart Stores, Inc. (WMT)
is the largest retailer in the world, operating in several countries. The company’s U.S. segment operates through discount stores, supercenters, as well as walmart.com. Wal-Mart International has additional retail channels such as hypermarkets, restaurants, apparel stores, Sam’s Clubs, and other online retail centers.
Federal regulators and the U.S. banking industry have blocked several attempts by Walmart to offer banking services at its 8,500 retail stores nationwide. But Walmart hasn't given up yet:
Wal-Mart Stores (WMT)
Q4 2011 Earnings Call
February 22, 2011 7:00 am ET
Executives
Carol Schumacher - Vice President of Investor Relations
Mike Duke - Chief Executive Officer, President, Director, Member of Equity Compensation Committee and Member of Executive Committee
Charles Holley - Chief Financial Officer and Executive Vice President
Jeff Davis - President and COO