Wal-Mart international focus is on existing markets
Bentonville, Ark. -- Wal-Mart executives, at the retailer's Thursday webcast of its 2012 International Conference for the investment community, said its emphasis in international markets will be on improving results in existing markets as opposed to focusing on entering new territories.
"Our focus this year in particular has been on improving returns with our existing businesses," said Doug McMillon, CEO of Walmart International. He said the company is working on the key markets of China and Brazil.
“A lot of issues have been identified in China over the last few months,” said McMillon. “It’s just nowhere near what it could be."
The international chief assured investors that the company will continue to look for new opportunities, even if it’s not a main focus. "If there's a large market out there with a high growth rate and we feel like for some reason this is a time that we need to go or want to go, we'll still do some of those things,” said McMillon. “But what I want to demonstrate to you is that we understand the obligation and opportunity that we have to improve returns, and we will do that."