Reports Of Wal-Mart China Retreat Greatly Exaggerated
Wal-Mart Stores (WMT) rose on a report that, contrary to recent news stories, it continues to expand in China and is on target with store openings there. The world's largest retailer plans to spend roughly $80 million to remodel 50 of the 380 stores it currently operates in China and to open 30 new ones this year, the Wall Street Journal reported. Greg Foran, president and CEO of Wal-Mart's China operations, said in a written statement that the
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