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Reuters reports that Walmart plans to "close 30 underperforming stores in Japan, scaling back in what was once considered one of the retailer's most promising markets and highlighting the hurdles it faces to securing growth overseas … the 30 stores operate under the Seiyu brand, and the closure is part of a revamp that will include remodels and other investments. The closures represent 7 percent of Wal-Mart's 434 stores in Japan."

According to the story, "Walmart spokesman Randy Hargrove said that overall the company's Japan operations were performing well, with sales and profits expected to grow for a sixth consecutive year in 2014. He said Seiyu's online revenues were growing at a fast clip."
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