Wal-Mart to shut down its outlet in Hangzhou

Closing part of company's plan to jettison underperforming stores

Wal-Mart Stores Inc, the world's largest retailer by revenue, plans to shut down another underperforming store - in Hangzhou, Zhejiang province - in late April, while a compensation dispute with employees from an inland store that closed in March remains unsolved.

Hu Yinghua, a saleswoman at Wal-Mart's Zhaohui store in Hangzhou, said they had a meeting on Wednesday afternoon as a formal notice of the closing of the store by the end of this month.