retail news in context, analysis with attitude

Reuters reports that Walmart "plans to expand its footprint in China by nearly a third by opening 115 new stores by 2017, the firm’s chief executive said, in a renewed push to lure China’s grocery shoppers despite slowing growth ... As well as new stores to boost sales, the world’s biggest retailer will close some under-performing stores and seek to tap into the faster-growing online grocery market through its Yihaodian.com service."

“Our aim is to become an integral part of China’s economy,” CEO Doug McMillon said at a news conference in Beijing earlier today. “China is a top priority.”

The story goes on to say that "Wal-Mart, France’s Carrefour SA and Britain’s Tesco PLC have all seen sales growth slip over the last five years, losing market share to local rivals, according to a report published on Tuesday from consumer analytics firm Kantar Worldpanel."
KC's View: