Walmart International store growth slowing substantially, and closing some stores in Brazil and China. Still hopeful on India, eventually.
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By Jessica Wohl
(Reuters) – Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) plans to use some of its large U.S. stores as distribution centers for nearby smaller stores, a move that could help the chain keep goods in stock and cut costs, Walmart U.S. Chief Executive Bill Simon said on Tuesday.
The plan is being tested and will roll out in the first of three unnamed markets in March, Simon said at the company’s meeting with investors and analysts in Arkansas on Tuesday. The meeting was also webcast.