Tags: Wal-Mart | CEO | Growth | Engine

Wal-Mart CEO Still Sees International Business as Growth Engine

Wednesday, 10 Oct 2012 09:47 AM

Wal-Mart Stores Inc. is gaining market share nearly everywhere it runs stores and still sees its international business as a growth engine despite its decision to slow down store openings in some key countries, Chief Executive Mike Duke said on Wednesday.

Duke also said that he believes the world's largest retailer is "playing to win in a very real way now" in e-commerce. The CEO is pleased with the progress Wal-Mart has made in online search and other areas, he said at the company's annual meeting with analysts and investors, which was also broadcast over the Internet.

Wal-Mart still plans to open more stores around the world, but, as it said earlier this year, will slow down store openings in Brazil, China and Mexico. In Brazil and China, Wal-Mart has said that it wants to work on making improvements in its hundreds of stores.

Meanwhile, the store approval process in Mexico, where its local affiliate has more than 2,000 locations, has slowed and become more complex in the wake of allegations that the company had bribed government officials to speed up approvals.

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Wal-Mart Stores Inc. is gaining market share nearly everywhere it runs stores and still sees its international business as a growth engine despite its decision to slow down store openings in some key countries, Chief Executive Mike Duke said on Wednesday.
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