WAL-MART AND CARREFOUR ASCEND COMPETITION IN CHINA
AsiaInfo Services, February, 2008
AsiaInfo Services 02-15-2008 Wal-Mart and Carrefour Ascend Competition in China BEIJING, Feb 15, 2008 (SinoCast via COMTEX) -- Wal-Mart Stores, Inc. (NYSE:WMT) and Carrefour (EPA: CA), two world's leading chain store operators, are keep fighting in China. Carrefour opened 19 new stores in China in 2007, operating 109 stores there.
Besides, the company plans further increased the number of stores in the country by 20% to 130 in 2008. Wal-Mart opened 29 new stores in China in 2007, less than 50 ones it once planned. And it is managing 100 stores in the country, below the company's expectation. Wal-Mart donated CNY 7.2 million in cash and USD 1 million worth of goods and materials to the Red Cross Society of China to help relieve the snow disaster in the southern...
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