retail news in context, analysis with attitude

Economic Times reports that "Walmart Stores Inc has stopped opening new stores in India, pending an anti-bribery probe into the company's operations, and has asked several employees hired a year ago for the new outlets to relocate to other parts of the country.

"Bharti Walmart, the 50:50 joint venture between Walmart and Bharti Enterprises, had planned to open seven Best Price Modern Wholesale stores (in Gujarat, Maharashtra, Andhra Pradesh, Madhya Pradesh and Tamil Nadu) between last November and March, according to an internal schedule reviewed by ET. According to persons familiar with the situation, many of the seven stores were to begin operations last year, but just weeks before the scheduled openings, the company decided to pull the plug because of the ongoing investigations, as well as tightening of procedures for obtaining licences."
KC's View: