Wal-Mart executives outlined plans Thursday to open up to 110 new stores in China over the next three years while closing some poorly performing stores and remodeling older locations.
In Beijing, Wal-Mart Stores Inc. President and Chief Executive Officer Mike Duke and Walmart China President and CEO Greg Foran said the plan will create nearly 19,000 retail jobs as the retail giant expands to keep pace with the country's urbanization and emerging middle class, according to a statement by Walmart China.
Foran said the plans include a focus on adding Wal-Mart Supercenters and Sam's Clubs locations while remodeling older stores and adding distribution centers. The Bentonville-based retailer opened two Sam's Clubs in Hangzhou and Suzhou this past year, raising the number of Chinese Sam's Clubs outlets to 10.
Renovations are in the works for about 45 stores this year, 55 next year and 65 the year after that, the company said. Walmart China plans to add a distribution center in Shenyang next month and more facilities over the next year.
"While we undertake these expansion plans and open up to 110 new facilities, we have announced that we will close some non-performing stores where needed," Foran said in the statement. "These closures represent up to nine percent of our total store portfolio, but only two to three percent of our total sales volume through next year."
Wal-Mart operates nearly 400 stores in China, according to its website.