RPT-Wal-Mart to expand China business by opening up to 110 facilities by 2016
BEIJING Oct 23 (Reuters) - Wal-Mart Stores Inc, the world's biggest retailer, is expanding its China business as it seeks to raise profitability in a slowing retail sector.
Wal-Mart will open up to 110 facilities in China between 2014 and 2016, it said at a press event in Beijing on Thursday.
The U.S. company said it has closed 11 stores in China and will seek to close as many as 30 others to reshape its business.
Walmart operates more than 400 retail hypermarkets, Sam's Club stores, and distribution centres in more than 160 cities throughout China.