Wal-Mart Stores Inc. is under increasing pressure from investors and labor-rights groups to name its garment suppliers after a fire in Bangladesh killed more than 100 people at a factory that made its clothes.
Wal-Mart Stores Inc. said it won’t accept an agreement “at this time” to improve fire and building safety in Bangladesh that’s supported by labor monitoring groups and was signed by several retailers this week.
Wal-Mart Stores Inc. , the world’s largest retailer, has found unsafe work practices in a mainland China factory operated by Elec-Tech International Co. , which supplies the chain with home appliances.
Wal-Mart Stores Inc., which has acknowledged one of its suppliers used the Bangladesh factory where more than 100 people died in a Nov. 24 blaze, worked with at least five suppliers there this year, documents found in the ruins by a labor-rights group show.
The day after a Bangladesh building collapsed, killing more than 230 people, disagreement emerged over whether the owner obtained appropriate construction permits, adding to concerns over worker safety in the country’s garment industry.
India’s opening up of foreign investment in retail may see Wal-Mart Stores Inc. be the first to tap the $505 billion market as Carrefour SA and Tesco Plc focus on battling falling profits and consumer spending.