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
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.
(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.
TORONTO — Walmart Canada is looking for a new chief executive with news of CEO Dirk Van den Berghe’s reassignment to China.
Van den Berghe, who has quietly led the country’s biggest mass merchant through a period of ever strengthening results since taking up the helm in August of 2014, will also be in charge of the retailer’s Asia region, including Japan.
Wal-Mart Stores Inc., the world’s largest retailer, hired Delhaize Group SA executive Dirk Van den Berghe to lead its Canadian operations.
Van den Berghe has 30 years of international business experience and most recently led food retailer Delhaize’s operations in Luxembourg and its home country of Belgium, Wal-Mart said Thursday in a statement. He’ll officially become chief executive officer of Wal-Mart Canada on Aug. 1.
Walmart Canada is known as the industry giant who forces other retailers to lower their prices to keep up, but its latest results suggest stiff industry competition is taking a toll on the mass merchant.
The unit of the world’s biggest retailer reported a third-quarter decline in customer traffic Wednesday and a drop in same-store sales, an important industry barometer of retail strength.
And, like grocery rival Loblaw, Walmart is feeling an impact from the pricing war even as it helps to spur it.
(Reuters) - Wal-Mart Stores Inc is emphasizing improving results in international markets where it already operates, such as China, over entering new markets, its top international executive said on Thursday.