Wal-Mart Pushes Restart Button In Asia; Seeks To Speed Up Expansion Efforts

Wal-Mart Stores Inc. is revising its business practices and legal-compliance strategies in Asia as part of its efforts to speed up its expansion efforts in the region. While the retailer has expanded faster in other regions, such as Brazil, Wal-Mart has encountered several snags in Asia. Its sourcing practices in Bangladesh became the focus of media and industry attention following the collapse of a garment factory building, which killed some 430 people. Government restrictions in India, economic slowdown in Japan, and the rise of stronger competitors in China have dampened the U.S. retailer’s operations in the region’s leading markets. In China, the company plans to upgrade its stores to help satisfy Chinese shoppers’ demand for more upscale-looking retail stores.