Walmart plans to add 115 new stores in China over the next three years, increasing its presence in the country by more than a quarter even as many of its international rivals scale back or withdraw from the difficult market.
“China is a key strategic market for Walmart,” Doug McMillon, Walmart global chief executive, said in Beijing on Wednesday. “Our goal is not to be the biggest retailer in China, we want to be the most trusted retailer.”
Like its domestic and international competitors in China, Walmart has struggled to make money in an immature market that faces stiff competition from burgeoning ecommerce services, led by the likes of New York-listed Alibaba.
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