The following statement can be attributed to Doug McMillon, Walmart International President and CEO.
Oct. 26, 2012 -- “Walmart believes strongly that the Chinese retail industry has great potential thanks to economic growth, expansion of the middle class, fast urbanization and government policies to further boost domestic demand as stipulated in the 12th Five Year Plan. Beginning next fiscal year, Walmart will establish approximately 100 new stores and Sam’s Clubs over the next three years. We also will invest in logistics infrastructure. We plan to add 18,000 jobs in China to support this store growth.”
Note: The company currently employs approximately 100,000 associates in China and operates 382 stores as of September 30, 2012.