US/JAPAN: Wal-Mart to expand Japan store operations
Wal-Mart said it plans to open seven Seiyu stores in 2012 and the remaining 15 in 2013
US retail giant Wal-Mart has confirmed plans to expand its store operations in Japan.
A spokesperson for the retailer told just-food today (2 October) that the group plans to open 22 stores in the country over the next two years.
The stores will open under the Seiyu banner, a national grocery chain Wal-Mart partnered with in Japan around ten years ago before acquiring it fully four years ago.
The retailer said it plans to open seven stores in the 2012 fiscal year and the remaining 15 in 2013.
"We believe that our proposition of providing the best value combined with assortment and the most convenient shopping experience is a formula for long-term success in Japan, and with Walmart Japan as a wholly-owned subsidiary we will be able to deliver on this proposition," the spokesperson said.
Wal-Mart operates around 427 stores under the Seiyu banner in Japan, the only one it operates under in the country.
In June, the retailer reported that the head of its Japan business had stepped down "for personal reasons", the fourth senior executive to leave its Asian operations in a month. Steve Dacus, the COO of Wal-Mart's Japanese unit, was promoted to replace Noda.
Wal-Mart completed restructuring its unprofitable Japanese outlets earlier this year and now has a focus on growth.
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