Walmart to Boost Canada Presence, Names Foran to Head China Operation
February 7, 2012,
MISSISSAUGA, Ontario and HONG KONG-Walmart will add 4.6 million square feet of retail space in Canada over the next 12 months, and has appointed Greg Foran president and CEO of Walmart China.
The additional space north of the border will involve 73 projects, encompassing new stores and the expansion, remodeling and relocation of existing stores. Included in this effort are most of the 39 former Zellers stores for which Walmart Canada purchased leasehold rights in June of last year, and which will open as Walmarts during this fiscal year, which runs from Feb. 1 to Jan. 31, 2013. The retailer will invest $750 million in these projects, according to a Walmart Canada statement.