• The Boston Globe reports that Walmart has plans to open its first Connecticut grocery store, a 50,000 square foot Neighborhood market store in West Hartford, Connecticut.
• The Wall Street Journal reports that Walmart plans to increase its stake in Chinese e-commerce company Yihaodian from 18 percent to 51 percent. Terms of the deal were not disclosed.
"We are very impressed with Yihaodian's strong management team, solid competence in supply chain management and, like Wal-Mart, they are committed to outstanding service to their customers," Neil Ashe, president and chief executive of Wal-Mart's global e-commerce division, said in a statement.
- KC's View:
- The Chinese investment probably isn;t just about China, but also about learning and developing skills that can be applied in other places...like the US.