Wal-Mart buying remaining stake in China's Yihaodian NEW YORK- Wal-Mart wants to make a bigger play for Chinese consumers online. Wal-Mart is attempting to follow consumers as they migrate to the Internet in China, a country where the retailer has struggled to adjust to buying habits and local competition. Wal-Mart Stores Inc. previously held about 51 percent of Yihaodian.
Source: The Associated Press
Wal-Mart buys out China e-commerce firm Yihaodian in online push Wal-Mart's move also comes after China said last month it will allow full foreign ownership of some e-commerce businesses, with the goal of encouraging foreign investment and the development and competitiveness of the sector. "1/ 8 Yihaodian's 3/ 8 local experience, combined with Walmart's global sourcing and our strong local retail presence and supply chain...
UPDATE 1-Costco, Sam's Club, others halt photo sites over possible breach TORONTO, July 20- Costco Wholesale Corp, Sam's Club and a handful of other large retailers have disabled their online photo printing stores in recent days, on concerns about a possible data breach at PNI Digital Media, which manages and/or hosts photo services sites. Other photo printing sites that might have been recently affected included Rite Aid Corp, Sam's...
| By: Solarina Ho