BENTONVILLE, Ark. — Walmart International will focus on growing in emerging markets next year, according to division president and chief executive officer Doug McMillon.
Walmart International will focus on growing in emerging markets next year, according to division president and chief executive officer Doug McMillon.
The discount store retailer’s capital investment in 2011 will drive expansion in China, Brazil and Mexico, McMillon said at the chain’s annual investment conference.
“Through a combination of comparable-store sales, new store square footage and continued earnings performance, we will continue to shape our international portfolio to drive both growth and improving returns,” he commented.
“We will also continue to evaluate acquisitions to enter priority markets and to build scale in existing markets,” he added.
The discounter continues to invest in organic global growth with multiple formats from Supercenters to small grocery stores and cash and carry units. New stores are expected to add 21 million square feet of space in the fiscal year ending January 31 and between 23 million- and 24 million square feet next year.
Walmart treasurer and executive vice president of finance Charles Holley added, “We are positioning our company for the next-generation Walmart, which means that we will grow internationally and in the United States. We believe our capital strategy strikes the right balance between growth and return on investment.”
“Because of Walmart International’s concentration on growth in emerging markets, capital expenditures for the segment will increase slightly more than 13% next year compared to the current fiscal year,” Holley remarked.