Wal-Mart Announces Large-Scale Expansion Plans

LITTLE ROCK, AK/USA (3 October 2000) – The world’s largest retailer Wal-Mart announced yesterday that it plans to add some 400 new stores to its already expansive network – that is, 400 stores next year alone. Of this number, 290 will be launched in the US and 110 throughout the rest of the world. The average size of the new stores will be no less than 40,000 square meters. In Europe the idea ‘Wal-Mart’ still has yet to catch on. Nevertheless, despite only being active in the UK and Germany, European retailers are wary of the US giant’s expansion ambitions. Since first stepping foot on European soil the European bike industry has also taken an active interest in the retailer’s plans as Wal-Mart is America’s number one seller of bicycles. In the US Wal-Mart currently has 1,742 warehouses and 835 Supercenters. Abroad, this number comes to 1,041. In Europe, many feel France is the US giant’s next market. Investors by the way didn’t take on to Wal-Mart’s expansion plans. Following the announcement the retailer’s stock dropped 5.6%. (JW)