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China Daily Mail

Walmart International focusing on own business over deals

China Daily Mail

Wal-Mart Stores is emphasising improving results in international markets where it already operates, such as China, over entering new markets, its top international executive said on Thursday.

“Our focus this year in particular has been on improving returns with our existing businesses,” said Doug McMillon, chief executive officer of Walmart International.

The company is working on the key markets of China and Brazil, he told investors and analysts at a meeting in Toronto that was also webcast.

China is getting ready to move to an everyday-low-price model, he said. Brazil has already switched over to that Walmart way of offering low prices at all times rather than relying on certain sale items.

In China, some new stores have not been as strong as Walmart would like, he said. Walmart China also dealt with a pork mislabelling issue last year that led to the temporary closure of some stores, and big…

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