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Wal-Mart to build 115 new stores in China by 2017, upgrade 50 this year
Beijing, China -- Wal-Mart Stores Inc. unveiled plans to countermand slowed growth in China with 115 new stores in the country by 2017 and creating some 30,000 jobs. The announcement adds about 35 new stores to the retailer’s building plans as Wal-Mart previously targeted 480 total stores in China by 2016, up from around 400 now.
CEO Doug McMillon said in a statement that "China is a key strategic market for Walmart. Over the next three years we will increase investment across our diverse business operations in China.”
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NRF supports ‘patent troll’ legislation
Washington, D.C. - The National Retail Federation today welcomed bipartisan patent reform legislation introduced by Senate Judiciary Committee Chairman Chuck E. Grassley, R-Iowa, and Ranking Member Patrick J. Leahy, D-VT, that seeks to protect retailers and other businesses from overly litigious patent trolls.