Walmart to open 500 stores in China, double store count
Walmart announced plans on Thursday to open 500 new stores in China in the next five to seven years.
The news
was first reported by the Chinese newspaper China Daily and was later followed up by CNN to include additional details.
A spokesperson
confirmed the news in a statement to Business Insider on Thursday and said that the new openings will include a mix of smaller stores, supercenters, and depots. Walmart is also remodeling more than 200 of its existing stores in the next few years.
Walmart first opened its doors in China in 1996 and has since grown to have 433 stores there.
Business Insider