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Wal-Mart Reviews Proposed Sale Of Some Stores In Brazil

December 23, 2015: 12:00 AM EST
Wal-Mart Stores Inc. is reviewing a proposal to close about 30 stores in Brazil in 2016, according to local newspaper Valor Economico. Part of the retailer’s plan to exit poor-performing markets, the proposal also includes looking at renting some of its property in the country. Such a move would mean shutting down about 5 percent of Wal-Mart’s 588 stores in the country. In the third quarter of 2015, the retailer’s sales dropped 0.4 percent, lagging behind the performance of GPA and Carrefour.
Guillermo Parra-Bernal, "Wal-Mart considers closing 5 percent of Brazil stores: report", Reuters, December 23, 2015, © Thomson Reuters
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