Wal-Mart
Foreign retailers turn to China's online market
A new foreign retailer joined the online market competition in China after Wal-Mart and Carrefour, which were faced with slowed expansion growth of their bricks-and-mortar stores.
It was METRO Group that announced its launch of its business-to-business online store recently.
Strong Walmart profit trumps bribery probe concerns
Walmart Stores Inc's profit and sales surpassed expectations as more people shopped at its established US stores and spent more, pushing shares up more than 4 percent despite ongoing internal and government probes into possible bribery.
The US retail giant earned USD3.74 billion, or USD1.09 per share in the first quarter, up from USD3.40b or USD97 cents a share a year ago. An earlier Easter and warmer weather contributed to the gains, the company said.
Brands seek digital insights
General Electric, Unilever and Wal-Mart are among the brand owners trying to enhance their understanding of digital technology and behaviours, reflecting the opportunities and challenges these trends present.
Speaking to Advertising Age, Beth Comstock, CMO of General Electric, the conglomerate, posed a variety of questions which brands must answer if they are to progress in the digital age.
Wal-Mart Disappoints & Target Preview
A break down of Wal-Mart's earnings miss, and a look ahead at Target's release on Tuesday, with Deborah Weinswig, Citi Investment Research retail analyst.
Wal-Mart Asia CEO serves as interim CEO in China
Wal-Mart announced last week that Scott Price, president and chief executive officer of Wal-Mart Asia, will temporarily take over the post of Ed Chan, who left Wal-Mart China as president and chief executive officer.
Ed Chan left the company for personal reasons and Wal-Mart thanked him for his service in the past five years.
Wal-Mart says China CEO stepping down
Wal-Mart says the president of its China unit and another executive are stepping down.
The announcement on Monday comes as Chinese authorities are investigating complaints that some Wal-Mart stores mislabeled pork. But a company spokesman said the departure of president Ed Chan and a senior vice president were unrelated to the investigation.
Wal-Mart workers in China are held in probe
Authorities in southwestern China detained Wal-Mart Stores Inc. employees in a probe of alleged fraud, highlighting legal – and political – obstacles the retailer faces as it struggles to make money in the world's most populous country.
Officials in Chongqing said Tuesday they are holding an undisclosed number of workers and have closed 13 of Wal-Mart's stores, pending an investigation of whether the company sold ordinary pork as a more expensive organic variety.
Indian traders protest foreign retail chains
India's biggest traders' association held a series of demonstrations on Tuesday against proposals to allow supermarket chains like Wal-Mart and Tesco into the country's retail sector.
The Confederation of All India Traders organised protests in several cities, including the capital New Delhi where about 150 shopkeepers voiced anger about proposed changes to foreign direct investment regulations in India.
India moves to open up retail sector to foreign firms
India took an important step towards opening up its USD450 billion retail sector to foreign players such as US-based Wal-Mart, a move seen aimed at tackling supply bottlenecks and high food price inflation.
A majority of members of a committee of top bureaucrats, set up to evaluate opening up the multi-brand retail sector – or stores which sell more than one brand – agreed on Friday to recommend to the cabinet allowing foreign firms to take a 51 percent stake in such enterprises, sources told Reuters.
Interview: Walmart aims to accelerate growth overseas
If Doug McMillon were running a standalone retailer, it would be among the largest in the world.
Now the head of Walmart's fast-growing international business, which reaps more than USD100 billion in annual revenue from some 4,000 stores in markets including China, Mexico, Brazil and the UK, is about to see his empire get even bigger.
