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.
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.
Wal-Mart Stores (WMT)
Q4 2011 Earnings Call
February 22, 2011 7:00 am ET
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