US: Wal-Mart opens new store format in China
Wal-Mart has opened a new store format in China
Wal-Mart Stores has confirmed the opening of a new "discount compact hypermarket" format in China, called Trust Mart.
A spokesperson told just-food today (3 December) that the urban stores will be opened in "second and third-tier cities". The first store opened in October in Zhangshu.
Compared with its Wal-Mart Supercenters, the spokesperson said the new stores will have a smaller sales floors of between 3,000-5,000 square metres.
The spokesperson declined to comment on the expansion plans for the format.
The move fits in with the retailer's wider strategy, which was announced in October, of focusing on opening smaller stores in urban areas, although at the time of the announcement, the retailer was focusing small store growth in the US.
Two senior executives within Wal-Mart Stores' Chinese operations have resigned, the world's largest retailer has confirmed....
Wal-Mart Stores has today (23 May) cooled speculation that the retailer is setting up a base in London to drive European expansion....
- On the move: What's in store from Tesco's new CEO?
- On the money: Can Premier build H2 sales momentum?
- Focus: Lindt plays safe with Russell Stover buy
- Interview: Bell hits out at German cartel ruling
- Focus: Progress but Campbell faces questions
- UPDATE: Premier establishes international unit
- Campbell issues warning on 2014/15 fiscal year
- S&A Foods announces restructure, 55 jobs to go
- Premier launches Oxo pots range in UK
- Universal Robina to buy biscuit firm Griffin's