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Wal-Mart quits poor markets, mulls closing 5pc or 30 Brazil stores

Time：2015-12-30 Browse：209 Author：RISINGSUN

WAL-MART Stores Inc is considering closing about 30 stores and renting some of its property in Brazil next year, Brazil`s Valor Economico newspaper reported.

Wal-Mart declined to comment directly about store closings, telling Reuters it is "constantly reviewing its portfolio and making decisions based on what`s best for the business and clients."

Two months ago Wal-Mart CEO Doug McMillon pledged to review Wal-Mart`s global store base to eliminate underperforming units. It has begun selling noncore businesses in Latin America, including property in Chile and a restaurant chain in Mexico.

Net sales in Brazil fell 0.4 per cent in the third quarter, below the performance of GPA and Carrefour, Valor reported.