Wal-Mart Aims for China Rebound After Meat-Packaging Scandal

Posted February 16th, 2012 at 3:05 am (UTC-5)
Leave a comment

The world's largest retailer says it is looking forward to rapid growth in China as it recovers from an embarrassing meat-packaging scandal.

The chief executive of Wal-Mart International says the company hopes not only to keep pace with China's rapid economic growth but to exceed it as the company seeks to boost its market share.

Doug McMillon's remarks came in an interview with the China Daily, the company's first public comments since a new president was named for its Chinese operations this week. Greg Foran, formerly senior vice president of Wal-Mart International, replaces Ed Chan, who stepped down in the wake of last October's scandal.

Government officials ordered the temporary closure of several Wal-Mart stores in the city of Chongqing after it was disclosed the stores had sold more than 63,000 kilograms of ordinary pork that was labeled as organic. Several company officials were detained and the company was fined more than $400,000.

McMillon said in the interview that Wal-Mart's China unit will improve the quality of its current stores and add new ones. It also plans to expand into e-commerce.