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Small-Mart: An urban legend in the making?
I’ve written before about the ongoing trend of some of the biggest names in retail downsizing. Now I’m seeing how brands like Target, Wal-Mart and Office Depot are rolling out smaller new store formats in urban environments, and it has me thinking about how this downsizing phenomenon might be even more important than many people realize.
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Wal-Mart gains approval to proceed with China e-commerce expansion
Bentonville, Ark. -- Wal-Mart Stores Inc. indicated Tuesday it has received the OK from Chinese regulators to move forward with its majority stake in e-commerce company Yihaodian.
According to a report by Wall Street Journal, which cited a Wal-Mart spokesperson in Beijing, the approval will allow Wal-Mart to expand its online presence in China. Under the deal, Wal-Mart will increase its stake in Yihaodian from 18% to 51%.
Financial terms of the transaction have not been disclosed.