Walmart to close China store

US retail giant Walmart will close another store in China.

Walmart will shut down its store in Kunshan, Jiangsu Province by the end of June citing unprofitability. According to its staff, the store has been unprofitable since 2008.

Analysts attribute the closure to China’s sluggish retail industry and high rental costs.

In April, Walmart closed three stores – in Shanghai, Wuxi and Shenzhen.

Meanwhile, its rival, British retailer Tesco, closed its Shanghai store in May.

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