Wal-Mart Stores Inc. named its top China executive to head its Asian operations amid store closures and sluggish sales in the region that have hampered the retailer’s attempts to counter slowing growth in the U.S.
Wal-Mart Stores Inc.’s failure to fix problems at outlets in Chongqing over the past five years forced authorities to temporarily halt its operations in the Chinese city as a warning, an official said.
Wal-Mart Stores Inc. vows to exceed expectations tomorrow when it reopens 13 Chinese outlets shut for mislabeling pork, a rising challenge in an industry that’s blossomed with competitors since the retailer arrived in 1996.
Wal-Mart Stores Inc., the world’s largest retailer, was ordered to halt operations at seven stores in southwest China as the local government investigates accusations that it mislabeled some pork products as organic.
Chinese police arrested two Wal-Mart Stores Inc. workers in Chongqing and detained 25 others in a pork mislabeling investigation that has temporarily closed 13 of the retailer’s stores in the southwestern city.