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Wal-Mart (WMT) projects China sales growth over 25 percent

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BEIJING (Reuters) – Wal-Mart Stores Inc. (NYSE:WMT), the world's largest retailer, expects it can keep delivering annual sales growth in China of at least 25 percent, a company executive said on Tuesday.

"If you look at the past history of Wal-Mart growth here, it's very like 25, 30 plus percent a year," Shawn Gray, Vice President of China Operations, told reporters in Beijing.

"Wal-Mart is committed to China, and the growth will continue," he said, speaking ahead of company-sponsored conference.

Gray did not give a dollar figure for the company's current China sales or say what portion of global sales come from its more than 100 stores in the country.

The giant discount retailer previously reported its second quarter profit jumped 17 percent. Although the firm forecast current quarter results could miss estimates amid global economic turmoil, analysts said it was well-positioned to gain market share.

Reuters


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