2005 was a busy year for Wal-Mart International. In December alone, the company acquired 545 new stores and gained more than 50,000 new associates in Japan and South America, capping a year of robust growth.
In December, The Seiyu Ltd., a leading Japanese retail chain with 405 stores, announced that shareholders had taken the steps necessary for Wal-Mart to acquire a majority interest in the company. In addition, three Wal-Mart executives, including two women, were elected to the Board of Directors. This will be the first time that two women have taken positions on the Seiyu board.
Also in December, Wal-Mart announced the acquisition of 140 Sonae stores in Brazil, adding a variety of retail formats to the company’s wide range of existing formats in the country. And Wal-Mart Canada confirmed the company would build expanded stores next year, offering fresh food and a wider selection. When complete, the stores will dedicate additional space to enhanced product offerings in food, fashion, electronics and home products.
These developments follow the September announcement that Wal-Mart had purchased a one-third interest in Central American Retail Holding Co. (CARHCO) with 363 supermarkets and other stores in Guatemala, Honduras, El Salvador, Nicaragua and Costa Rica. As part of the agreement, Wal-Mart will acquire additional interests over time in CARHCO, including interests toward achieving majority ownership in the company.
In 2006 with plans to open as many as 230 new international stores. Currently, Wal-Mart International operates over 2,200 retail units and employs more than 450,000 associates in Argentina, Brazil, Canada, China, Germany, Japan, South Korea, Mexico, Puerto Rico and the United Kingdom.
[Source: Wal-Mart]
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