Report
Sam’s Club anchors Walmart’s growth in China
Fortune reports Walmart’s China sales rose 19.3% in its past fiscal year despite a consumer spending slump.
TLDR
Fortune reports Walmart’s China sales reached $24.6 billion in its past fiscal year, up 19.3%. Fitch Ratings senior director Cathy Chao estimates Sam’s Club accounts for about 70% of Walmart’s China revenue. The retailer has also expanded fast delivery and introduced smaller portions for local shoppers under China CEO Christina Zhu.
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