Forecast Investment of 500 Million RMB to Remodel Existing Stores
(April 1, 2013 – Shenzhen) Following Walmart’s announcement in October 2012, more than 100 new stores will open in China in the next three years. Walmart China today announced that it expects to open 30 new stores in 2013. And in order to present a better shopping experience, Walmart will also spend nearly 500 million RMB in this year to remodel 50 existing stores. This follows the completion of remodeling 31 stores in 2012.
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. In the next 6 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.
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 stated: “China is one of the Walmart’s most strategic markets. Walmart will continue to upgrade our operations and invest in our stores, Clubs and DC's. Our aim is to strengthen our business foundation to enable our long-term development in China. 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.”