Wal-Mart to open 100 stores in China over 3 years
Updated: 2012-10-25 21:59
By WANG ZHUOQIONG (chinadaily.com.cn)
Wal-Mart Stores Inc, the world’s largest retailer in terms of sales, plans to open 100 more stores in China in the next three years, the company's top executive said on Thursday.
Mike Duke, president and CEO of?Wal-Mart, said in Beijing on Thursday that the company will continue to expand in China by opening 100 hypermarkets and Sam Club stores, creating 18,000 jobs.
Sam Club stores are membership-only retail warehouse clubs.
The expansion plan is driven by the emerging Chinese middle class, which has higher disposable incomes.