Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Wal-Mart Stores, Inc.    WMT

Delayed Quote. Delayed  - 08/30 10:00:19 pm
71.31 USD   -0.13%
04:18a WAL MART STORES : Mart to close West Plaza store in Aurora
08/30DJWAL MART STORES : Chinese Slowdown Hits U.S. Companies
08/30 WAL MART STORES : Mart hiring 95 employees for new St. Martin store
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Wal-Mart China Store Openings on Track

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/01/2013 | 01:25pm CEST

BEIJING--Wal-Mart Stores Inc. (>> Wal-Mart Stores, Inc.) plans to invest 500 million yuan ($79.8 million) to upgrade Chinese stores and said it is on target with store openings there, following local media reports that said recent store closures are derailing store growth plans in one of the retailers' key markets.

The Bentonville, Ark., retailer plans to remodel 50 of its 380-plus stores there and will open 30 new stores this year the country, according to a company statement on Monday. In the next six months, store openings are expected in cities such as Xinyu in eastern Jiangxi province and Shantou in southern Guangdong province, the statement said.

Wal-Mart also plans to invest in distribution-center networks and to improve its warehouses, the statement said, adding that enhancements are aimed at improving food safety and reducing costs.

Wal-Mart's announcement follows local media reports that questioned whether it is stepping back from its growth targets. The reports said Wal-Mart is closing China stores throughout April following struggles with high rent and increasing labor costs.

Wal-Mart is standing by an announcement it made in the past year to open 100 new stores in China over three years, Greg Foran, president and chief executive of Wal-Mart's China division, said in the statement.

"China is one of the Wal-Mart's most strategic markets," said Mr. Foran in the statement, adding "our aim is to strengthen our business foundation to enable our long-term development in China."

A spokeswoman for Wal-Mart said store closures are a normal part of the company's operations.

China is a key growth market for Wal-Mart, which is currently No. 2 in market share in China behind rival Sun Art Retail Group Ltd. (6808.HK), a joint venture between Taiwanese conglomerate Ruentex Group and France's Groupe Auchan SA.

Company executives said last year they would add 18,000 jobs to Wal-Mart's roster of 100,000 in China. Yet they also said they planned to reduce the pace of investment in the country, adjusting to slower growth of the world's second-largest economy. Wal-Mart had been opening in China 50 to 60 stores a year.

Some foreign retailers have faced uphill challenges in China in recent months. European retailer Metro AG (>> METRO AG) announced in January plans to pull out of the consumer-electronics business. Last year, Home Depot Inc. (>> The Home Depot, Inc.) said it was closing all seven of its big-box home improvement stores in China.

Wal-Mart said it will open soon new two new Sam's Club outlets and has completed the remodeling of 31 stores it began last year, today's statement said.

The retailer has been expanding its online operations in China. It bought last year a 51% stake in Chinese e-commerce company Yihaodian.

Write to Laurie Burkitt at Laurie.Burkitt@wsj.com

Stocks mentioned in the article : Wal-Mart Stores, Inc., The Home Depot, Inc., METRO AG
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on WAL-MART STORES, INC.
04:18a WAL MART STORES : Mart to close West Plaza store in Aurora
08/30DJWAL MART STORES : Chinese Slowdown Hits U.S. Companies
08/30 WAL MART STORES : Mart hiring 95 employees for new St. Martin store
08/27 WAL MART STORES : Walmart goes online
08/27 WAL MART STORES : Mart takes Texas to court to crack liquor-sales market
08/26 WAL MART STORES : Brand New Wake Forest Sam’s Club to Open Thursday
08/26 WAL MART STORES : New, larger Walmart under construction at Market Centre plaza ..
08/26 MASSMART : slashes dividend
08/26DJWAL MART STORES : Cotton Supplier Faced Wal-Mart Scrutiny Before -- WSJ
08/26 WAL MART STORES : German grocer eyeing Clayton
More news
Sector news : Other Specialty Retailers - NEC
08/30DJCHINA BANKING : Bank Plans To Raise PHP20 Billion from Sale of Deposit Certifica..
08/25DJMICHAELS : Cuts Outlook After 'Choppy' Environment in First Half
08/22DJHELP WANTED : Office Supply Chain CEO
08/17DJSTAPLES : Swings to Loss, to Close 50 Stores This Year
08/16DJDICKS SPORTING GOODS : Dick's Sporting Goods Posts Surprise Increase in Financia..
More sector news : Other Specialty Retailers - NEC
News from SeekingAlpha
08/30 AMAZON : Don't Underestimate Traditional Retail
08/30 DOLLAR TREE : What You Should Do
08/30 Kroger Can't Seem To Catch A Break
08/30 INSIDERINSIGHTS.COM DAILY ROUND UP 8 : Newm, capl, psx, cavm
08/29 My Updated Portfolio, With 2 Purchases
Advertisement
Financials ($)
Sales 2017 487 535 M
EBIT 2017 23 052 M
Net income 2017 13 684 M
Debt 2017 41 700 M
Yield 2017 2,81%
P/E ratio 2017 16,18
P/E ratio 2018 15,86
EV / Sales 2017 0,54x
EV / Sales 2018 0,53x
Capitalization 222 529 M
More Financials
Chart WAL-MART STORES, INC.
Duration : Period :
Wal-Mart Stores, Inc. Technical Analysis Chart | WMT | US9311421039 | 4-Traders
Full-screen chart
Technical analysis trends WAL-MART STORES, ...
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Average target price 73,2 $
Spread / Average Target 2,5%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
C. Douglas McMillon President, Chief Executive Officer & Director
Greg B. Penner Chairman
Michael J. Bender Chief Operating Officer & Global eCommerce
Brett M. Biggs Chief Financial Officer & Executive Vice President
Karenann K. Terrell Chief Information Officer & Executive VP
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
WAL-MART STORES, INC.16.48%222 529
SM INVESTMENTS CORPORA..--.--%17 902
TRACTOR SUPPLY COMPANY-0.27%11 398
MARKS AND SPENCER GROU..-23.74%7 327
DUFRY AG-3.92%6 330
STAPLES, INC.-8.34%5 646
More Results