Walmart to open 500 stores, depots in Chinese mainland over next 5 years

Global retail giant Walmart is planning to open more than 500 new stores and depots (smaller warehouses) in China during the next five to seven years and revamp 200 existing stores in three years, according to a top company official.

The US firm's expansion plan comes at a time when foreign retailers like France's Carrefour and Germany's Metro Group have exited the Chinese mainland amid an increasingly tough retail environment. Walmart, on the other hand is looking to add more smaller-sized stores, enhance integration of online and offline shopping experience, said James Ku, senior vice-president of China Realty at Walmart.

Ku said the company was confident about the Chinese market and will continue to enhance its investment.