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Wal-Mart to double China outlets by 2006China Travel Services Retailer seeks to expand to 90 stores in country SHANGHAI - Wal-Mart Stores Inc., the world's biggest retailer, plans to more than double its outlets in China and run 90 stores by the end of 2006, a senior executive said on Monday, as it fights to expand market share. Wal-Mart, like rivals Carrefour S.A. and Metro A.G., has been building stores in Asia's largest retail market after Japan at a rapid clip, taking advantage of growing incomes and a gradually liberalising retail industry. Lawrence Lee, regional operations director for eastern China, also told Reuters later that the Arkansas-based U.S. giant expected to post double-digit revenue growth in the country in 2005, though he declined to give specifics. |
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