Despite closing selected stores in China this year, Walmart says it remains on track with its store opening and refurbishing program.
In late March, as reported by InsideRetail.Asia, Walmart said it would close stores in Wuxi and Shenzhen cities during April, citing factors including store location and shop performance.
But on April 2, the company issued a statement confirming it remained committed to October’s announcement to open more than 100 new stores during the next three years.
“In order to present a better shopping experience, Walmart will also spend nearly 500 million yuan to remodel 50 existing stores in 2013. This follows the completion of remodeling 31 stores in 2012,” the company said.
At the beginning of 2013, Walmart opened two new stores in Sanhe, Hebei and Bazhong, Sichuan. At the same time, two Walmart hypermarkets will be opening in Shenzhen and Dongguan, Guangdong, and two new Sam’s Club stores in Hangzhou, Zhejiang and Suzhou, Jiangsu soon.
During the next six months, store openings will take place in cities such as Xinyu and Ji’an of Jiangxi, Tianmen of Hubei, Shantou of Guangdong, Wuyi of Zhejiang, Baoding of Hebei, Zhenjiang of Jiangsu.
Walmart expects to open about 30 new stores in 2013.
The company will also invest in building more distribution centre networks. A new distribution center in Wuhan will enhance the network capability. Further enhancements to chilled warehouses in Shenzhen and Guangzhou will improve customer services, enhance food safety and quality and help reduce costs.
Walmart China’s President and CEO Greg Foran described China as one of Walmart’s most strategic markets.
“Walmart will continue to upgrade our operations and invest in our stores, Clubs and DCs. Our aim is to strengthen our business foundation to enable our long-term development in China,” said Foran.
“We will continually improve our operational efficiency, reduce costs, and lower prices of our products so that they are more affordable for consumers. We remain committed to our previously announced plan to open more than 100 new stores in the next three years.”
