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Wal-Mart Shuts Down 60 Stores In Brazil

January 14, 2016: 12:00 AM EST
Wal-Mart Stores Inc. shut down around 60 stores in Brazil, more than 10 percent of its branches in the country. According to sources, the store closures were part of the retailer’s reorganization of its Brazil operations, one of its most important overseas markets. In December 2015, the company said it plans to close “underperforming” stores, about 5 percent of its total locations in the country.
Nathan Layne and Brad Haynes, "Wal-Mart closed over 10 percent of Brazil stores in restructuring: sources", Reuters, January 14, 2016, © Thomson Reuters
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