China will allow online sales of prescription drugs as early as this month, a policy that will open up an over 1 trillion yuan ($161 billion) market to online pharmacy operators like Alibaba Group Holding Ltd and Wal-Mart Stores Inc.
Tags: Wal-Mart Stores Inc
Walmex Q4 net income down by 18.4%
Wal-Mart De Mexico SAB posted an 18.4% drop in its fourth-quarter net income. High spending during the fourth quarter affected the retailer's earnings.
China Resources to offload stake in Wal-Mart China for $525mn
China Resources SZITIC Trust Co Ltd, a unit of China Resources Corp, is planning to divest minority stake in Wal-Mart Stores Inc. The state-backed China Resources Trust has a minority stake in the US retailer's operations in China. Wal-Mart Stores Inc has 21 Wal-Mart outlets in China. China Resources has listed its stake for sale at Yuan3.3billion ($525million). It's estimated that China Resources has 35 percent stake in the Wal-Mart outlets in China. Wal-Mart believes the transfer of minority stake doesn't impact the operations in China.
Amazon reports strong Q2 gains, overtakes Wal-Mart in market value
Amazon.com Inc. has surpassed Wal-Mart Stores Inc. in market value. This comes after the online retailer reported revenues and profits exceeding Wall Street expectations for the second quarter ending June 30.
In 'year of Apple Pay', many top retailers remain skeptical
In a January earnings call with investors, Apple Inc (AAPL.O) Chief Executive Tim Cook made a confident prediction: "2015 will be the year of Apple Pay," he said.
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U.S. retail store sales fell 8 percent during the 2014 holiday season despite a late shopping surge, but overall holiday sales should show a 3.5 to 4 percent rise from a year ago because of stronger online buying, analytics company Retail Next said on Wednesday.
Home Depot Inc said on Tuesday it was working with law enforcement to investigate "some unusual activity" related to customer data but that it could not confirm if it had become the latest retailer to be hit by a large-scale security breach.
Dollar General Corp (DG.N) raised its bid for Family Dollar Stores Inc (FDO.N) to $9.1 billion, and warned it may turn hostile and appeal directly to shareholders if the new offer was rejected.
Many large US retailers on Thursday dialed back their earnings forecasts because of steep discounts they offered during the holidays. Discounts boosted overall industry sales but hurt profits at many retail chains.
Wal-Mart Stores Inc. on Friday appointed senior vice-president Krish Iyer as new chief executive officer of Wal-Mart India. Iyer was named the retailer's new local unit CEO two months after Wal-Mart called off its Indian joint venture with Bharti Enterprises Pvt.
California-based Green Dot Corp. intends to buy GE Capital's Wal-Mart branded prepaid debit cards. The deal will bring in over USD276 million in total deposits to Green Dot's bank in Utah.
Canadian retailer Sears Canada would be exiting from its ownership in eight real estate properties for CAD315 million after suffering from company losses.
The new manufacturing commitments for the US that would be announced by Wal-Mart and the US government were part of the retailer's USD50 billion investment pledge to the US economy.
US retailer Walmart fired and then gave an employee his job back after he helped woman who was assaulted in a company store parking lot.
