Walmart plans more hypermarkets

Walmart China will continue to grow hypermarkets and high-end membership format Sam's Clubs in the next three years even as it further develops its home delivery and e-commerce business in the country, top company officials said on Wednesday.

Greg Foran, head of Walmart Asia and former president and CEO of Walmart China, said on Wednesday in his first media interaction after being appointed to the new role, that "China has the opportunity to become the second-biggest market for the retailer, after the United States."

"The future is also clear that we want to continue hyper-markets and Sam's clubs. We have started to understand how to use mobile channels more effectively. In the future, mobile channels will complement our stores," said Foran.