US retail giant is looking to expand in central and eastern Europe, according to CEO Lee Scott, the Financial Times reported today (Monday).
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In an interview with the paper during a visit to Brussels, Scott said new EU members Poland and Hungary, as well as Russia, would be attractive in the future. “We have a portfolio we are working on,” he said. “It doesn’t matter to us which of these will be first, we want all of them at some point.” Wal-Mart wanted to continue achieving 30% of its growth outside the US.
In central and eastern Europe acquisition would make more sense than establishing new operations.
The company was also looking at more countries in Latin America, beyond Mexico, Brazil and Argentina, where it already has a presence, as well as considering India.
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