When the biggest retailer in the world talks; people listen— especially when that retailer speaks Chinese.
Earlier this year Walmart (WMT) announced plans to open two additional Sam’s Club outlet stores in China in 2014. Most recently, the company’s head China guy, Greg Foran, said he hopes to increase that rate each year until there are 10 new Sam’s Club stores per year in the next six or so years.
Up until recently, WMT focused on expanding its namesake brand stores in China, but the shift toward Sam’s Club stores is widely seen as a move to stay ahead of growing competition from local discount retailers.
Will the move be successful and boost WMT stock? While that remains to be seen, I wouldn’t bet against the will of the mighty Walmart.