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Report: Wal-Mart to shut 20 China stores
Bentonville, Ark. – Wal-Mart Stores will reportedly close 20 underperforming stores in China next year as part of an overhaul of its Chinese operations. According to Bloomberg, Wal-Mart is restructuring its business in China, including a new management structure and more efficient purchasing operations.
However, Wal-Mart still plans to open 100 stores in China during the next three years. A Wal-Mart executive said the stores being closed there do not have ideal locations or layouts. -
Shop.org: Online retailers prep for holidays early
Washington, D.C. – Many online retailers are starting or have started their holiday preparations early this year. According to Shop.org’s eHoliday survey conducted by Prosper Insights & Analytics, 74% of online retailers had started preparing for the 2013 holiday season by July of this year, and 51% plan to start their holiday promotions by Halloween.