Will Wal-Mart Stores, Inc (NYSE:WMT) Scrap India Plans?
No matter how the west looks at emerging markets, the fact is that they have great potential and that potential is what Wal-Mart Stores, Inc (NYSE:WMT) wants to tap by launching its brand in India. But the company has had its qualms and some of its top executives in India have been making negative comments about the existing regulations. However, Chidambaram, India’s finance minister said that the Chief Executive Officer of Wal-Mart Stores, Inc (NYSE:WMT) is in touch with officials in India about its presence in the country.
Scott Price, the company’s Asia Chief Executive stated that it could prove to be very difficult for any domestic or foreign retailer to fall in line with India’s restrictions on Investment. India’s finance minister said that the company’s Asia CEO has probably made the statement but that that he does not think it is Wal-Mart Stores, Inc (NYSE:WMT)’s final word as the company’s Chief Executive Officer is in touch with his colleague.
Monday’s trading session
In Monday’s trading, Wal-Mart Stores, Inc (NYSE:WMT) dropped by 1.28%. The opening price of the shares was $72.42, which was also the intraday high and dipped to a close of $71.87. Approximately 6.89 million shares were traded on Monday while an average volume of 6.09 million shares were traded over a 30 day period.
About the company
Wal-Mart Stores, Inc (NYSE:WMT) operates retail-stores in different formats across the globe. The company’s pricing-philosophy is everyday low prices and it prices all items at a low-price everyday. Wal-Mart Stores, Inc (NYSE:WMT) operates in three different business segments: 1) the Walmart U.S. segment, 2) the Walmart International segment, and 3) Sam’s Club segment. In the financial year ended 31 January 2012 Wal-Mart Stores, Inc (NYSE:WMT)’s U.S. segment made up for around 60% of its net-sales.