Wal-Mart International Chief McMillon Seeking Growth in China, Brazil

Wal-Mart, the world's largest retailer, sees more opportunity in emerging markets than in Europe, according to the company's International CEO, Doug McMillon.  At the top of the list is China, followed by Brazil.  The company is looking overseas for growth as sales in the U.S. stagnate and slow down.  Wal-Mart operates 4100 stores in 41 countries outside the U.S., with annual sales topping $100 billion.  Its most recent entry is to purchase 51 percent of South Africa's Massmart for approximately $2.3 billion, stopping short of buying the entire company due to objections from local unions.  Hit the link below for a video interview with McMillon in which he explains the company's international expansion strategy.

Wal-Mart's McMillon Interview - Video - Bloomberg

Asda to Buy Netto's U.K. Stores

Wal-Mart, a U.S. company, bought Asda, a British company, a few years ago. Asda runs large grocery stores similar to what Wal-Mart has in the U.S. Now, Asda (using money from its parent Wal-Mart) is buying the U.K. stores of Netto, a chain of grocery stores majority owned by Dutch shipping container group Maersk. The price is $1.12 billion. The reason? So that Wal-Mart can enter into smaller, more convenient, in-town grocery retailing in the U.K.

Asda to Buy Netto's U.K. Stores - WSJ.com