Wal-Mart

MBA Course - Retailing and
Logistics
Case Study
Wal-Mart
June 4th 2012
Lecturer: Professor Dr. Morschett
Author: Dominik Jäkle 2536881
Abstract
Wal-Mart is the number one retailer in the world and operates stores in numerous countries. In
this paper, the Wal-Mart country portfolio is analyzed and evaluated. Not only the development
in the single countries is reviewed but also recommendations for future expansions are proposed.
Special attention is given to the different store formats present in the countries.
MBA Course - Retailing and Logistics
Table of Contents
1. Overview and Company Strategy ............................................................................................ 1
2 Country Market Portfolio ......................................................................................................... 1
2.1 United States of America – The Home Market ................................................................. 2
Store Formats ........................................................................................................................... 2
Development and Future .......................................................................................................... 3
3 International Operation ............................................................................................................ 4
3.1 Mexico ............................................................................................................................... 4
3.2 United Kingdom ................................................................................................................ 6
3.3 Canada ............................................................................................................................... 6
3.4 Brazil ................................................................................................................................. 7
3.5 Central America ................................................................................................................. 7
3.6 Latin America .................................................................................................................... 8
3.7 Africa ................................................................................................................................. 8
3.8 China .................................................................................................................................. 8
3.9 India ................................................................................................................................... 8
4. Development of country portfolio ............................................................................................ 9
5. Evaluation of Wal-Mart’s International activities .................................................................. 10
6. Critical review ........................................................................................................................ 11
7. Further improvement .............................................................................................................. 12
Works cited..................................................................................................................................... IV
Table of Figures ............................................................................................................................... V
Page II
Case Study – Prof. Dr. Morschett Dominik Jäkle
1. Overview and Company Strategy

Wal-Mart is the largest retailer in the world. The company was founded by Sam Walton in 1962. It
is headquartered in Bentonville, Arkansas. Wal-Mart runs around 10,130 stores in 26 countries
under 55 different names. Being present all over the world with numerous stores, Wal-Mart is the
biggest employer worldwide with more than two million employees. The company is listed on the
stock exchange, but is still controlled by the descendants of the founder, who hold approximately
50% of all shares.1 2
The company started out as a small chain of stores in Arkansas. The successful concept was
offering the goods just slightly cheaper than the competitors did. “Saving people money“ was the
goal that Sam Walton envisioned when starting the business. Today, the company is still operating
according to the motto and has renewed the 40 year old slogan, which can be found in the logo, to
“Saving people money to help them live better“.
The company strategy tries to position Wal-Mart as the leader in retail business with regard to
price and service. All in- and out-store processes, the store design and store equipment try to
contribute to the strategy. The stores are built in a simple, similar and cheap way in order to save
money. The store interior tries to advertise the discounts and give additional information to the
customer. Goods are often offered in big boxes or on pallets. The store employees are trained to
have a very friendly attitude towards customers, to greet and offer help whenever they come close
to a customer.
In former times, Wal-Mart acquired growth through a careful consideration of locations, away
from competition. Driven by saturation and competition, Wal-Mart is extending its original
strategy. There are three ways being considered: internationalization, different formats and
expanding the product range to offer more complete “customer solutions” like travel, insurance
and banking services.
2 Country Market Portfolio

Wal-Mart is present in many countries offering different concept and stores to serve the customer
needs. In this section, the country-specific market portfolios of all of these 26 countries are
presented.
1
Wal-Mart Annual Report 2012
2
http://www.businessdictionary.com/definition/Wal-Mart.html
Page 1
2.1 United States of America – The Home Market

Wal-Mart was founded in Arkansas and the US was their only market for almost 30 years. For
many years, Wal-Mart has been the largest grocery retailer in the United States. In addition to the
Wal-Mart stores, the company also owns the Sam's Club retail warehouses in North America,
operating a total of more 4,400 retail facilities.For the fiscal year 2012, Wal-Mart U.S. net sales
were more than $264 billion, and Sam’s Club net sales were more than $53 billion, making a total
of almost three thirds of the Wal-Mart total sales.3 Therefore the US market is essential for the
company’s performance. There are a number of
competitors present in the US market. Nevertheless,
Wal-Mart is by far the largest retailer in the USA,
accounting for more than 10% of the total retail sales in
the US. 4 It dominates the retail market with sales
exceeding the combined sales of the next six largest
Figure 1: Distribution of Wal-Mart Worldwide Sales retailers in the US.
Store Formats
The company is present in several different store formats and under different names to fully
exploit the market potential:5:
Discount Stores: Discount stores represent the original store concept. Wal-Mart discount stores
are discount department stores with sizes between 5,000sqm and 20,000sqm. In those stores,
general merchandise like clothes, toys and decoration is sold beside a selection of groceries. Many
of the stores offer additional services and products like outdoor equipment, pharmacies or bank
branches.
Wal-Mart Supercenters: Wal-Mart Supercenters are hypermarkets with sizes between 9,000sqm
and 25,000sqm. More than half of the supercenter building is devoted to general merchandise
sales. Garden centers are often placed beside the store. Only around 20% of the total floor area
sells groceries, including fresh produce and meat. In most centers, food service areas and various
service stores, including banks, vision centers, pharmacies and salons, are found at the front of the
store.
3
Walmart annual report 2012
4
http://vinodp.com/documents/investing/Wal-MartValuation.pdf
5
http://www.walmartstores.com/AboutUs/7603.aspx
Page 2
Neighborhood Stores: Neighborhood stores serve as smaller stores to fit in the already saturated
market. The Neighborhood stores have an average size of 4,000sqm and offer a limited assortment
of general merchandise but a full supermarket. The stores are located in smaller cities and in rural
areas.
Marketside: An even smaller format is the Marketside store format. It is currently only present in
Arizona and offering just groceries. The brand Marketside is also used for many of the own brands
of the Wal-Mart corporation.
Wal-Mart Express: Wal-Mart Express is a concept faced on small towns or cities where either
purchasing power or space is limited. It offers a reduced assortment of groceries.
Supermercado de Wal-Mart: This store format can be found near Hispanic communities. It is
built like one of the neighborhood stores, but offers many Hispanic products, which are not sold in
general Wal-Mart stores.
Sam’s Club: Wal-Mart is operating Sam’s Club, which has a particular business concept. Sam’s
Club sells groceries and merchandise in large quantities in a membership club to customers and
small business. Membership has to be bought either on a daily or yearly basis. The business model
found a niche as a supplier for small businesses. The stores open early and provide products such
as office equipment and restaurant interior in addition to groceries and merchandise.
Development and Future

The concept of the service discount retailer Wal-Mart was incredibly successful on the US market,
making Wal-Mart not only to the number one retailer in the US but also on a worldwide level.
Wal-Mart fully exploited the potential of the American market. Market saturation for their
discount and supercenters has been reached several years ago. The company is now opening
smaller stores to exploit the remaining potential in smaller cities, rural areas and city centers.
The company has and will keep a number of competitive advantages on the US retail market.
1. Economies of scale: Wal-Mart is by far the biggest retailer in the US. This is the basis for
the sustainability of Wal-Mart’s US business. The size alone results in many advantages
Page 3
such as bargaining power, which allows Wal-Mart to purchase its goods at a lower cost
compared to other retailers.
2. Non union workforce keeps employee costs lower compared to other grocery chains that
compete with Wal-Mart.
3. A highly efficient and innovative IT and logistic system gives an advantage over the
competitors. It keeps costs down and allows running the operations smoothly.
All the above mentioned advantages enable Wal-Mart to offer lower prices to its customers, which
serves as a significant barrier to competitors seeking to compete on basis of price. This creates a
virtuous feedback loop where low costs attract more customers, which increases its ability to
negotiate lower prices and process efficiencies from its suppliers, which leads to lower prices and
more customers.
3 International Operation
Wal-Mart is present in 26 countries around the world,
covering all continents except Australia.
3.1 Mexico
Mexico is by far Wal-Mart’s largest foreign presence, and the
Latin American market makes up for almost 60% of Wal-
Mart’s international business.6 7 Figure 2: Wal-Mart Worldwide presence
Wal-Mart started its international operations in 1991 with its entry into Mexico. The company
entered Mexico through a joint venture with the Cifra group, a leading Mexican retailer. Wal-Mart
later consolidated its position in Mexico by acquiring a major stake in Cifra. Because there are
significant income and cultural differences between the US market and the Mexican market, Wal-
Mart saw a high risk in a wholly-owned subsidiary and chose the way of a Joint venture. Wal-Mart
wanted to learn the specific needs of the Mexican market and tailored its operations to the local
market requirements and overcome the startup difficulties.8
6
Walmart Fact Sheet Mexico
7
http://www.globalpost.com/dispatch/news/regions/americas/mexico/120424/wal-marts-international-reach-
infographic
8
http://www.gurufocus.com/news/129746/the-international-business-of-walmart
Page 4
In Mexico, Wal-Mart is operating under the name of WalMex and offers several different store
formats:
• Discount stores and Discount warehouses, similar to the Discount stores in the US. They
offer basic merchandise, food and household items at discount prices under different store
formats like Bodega Aurrera, Despensa Familiar, Maxi Bodega and Maxi Pali.
• Hypermarkets, similar to the Supercenters, which operate under the Wal-Mart brand.
• Clubs, which are supermarkets that are similar to the Sam’s Club concept, offering large
quantities of goods.
• Apparel, which distributes and sells apparel and accessories for women, men and children
through a network of stores, which operate under the Suburbia name9.

Wal-Mart's low-price strategy suited perfectly to the Mexican population that prefers low priced
products. Wal-Mart is seen as a supplier of quality food, groceries and other supplies at affordable
prices. Wal-Mart gained huge market shares in Mexico. WalMex accounts for about half of
Mexico’s supermarket sales. WalMex, like many other foreign divisions of Wal-Mart, doesn’t
cater to the same penny-pinching class Wal-Mart does in the U.S. Wal-Mart sells a kilogram of
rice in Mexico for 2/3 of what it sells for in the U.S., thus pricing out a good portion of the
Mexican market. Despite dominating the supermarket business, Wal-Mart accounts for only 7% of
all retail sales in Mexico. Many of the poorest Mexican consumers continue to buy from street
vendors and other small untaxed businesses, which naturally have even lower cost structures than
Wal-Mart. The market potential was exploited by Wal-Mart very well in the past 20 years. The
population having sufficient income to shop at Wal-Mart stores is doing so. Due to the economic
growth in Mexico the marked is no yet saturated. A growing middle class is further increasing the
sales in the Wal-Mart stores. Therefore, the great importance of the Mexican market will further
increase.In spring 2012, Wal-Mart was alleged of bribery to Mexican officials in order to obtain
construction permits faster. Besides a huge loss in image, a threat of dramatic compensation
payments is disturbing the business. The bribery is not only culpable under Mexican but also
American law.10
9
http://topics.nytimes.com/topics/news/business/companies/wal-mart-de-mexico-sab-de-cv/index.html
10
http://www.nytimes.com/2012/04/22/business/at-wal-mart-in-mexico-a-bribe-inquiry-
silenced.html?_r=1&ref=walmartdemexicosabdecv
Page 5
3.2 United Kingdom

Wal-Mart is present in the UK market with the brand ASDA since 1999. ASDA contributes
around 30% of the sales of the international business of Wal-Mart. In the U.K., Wal-Mart entered
the retail market through the acquisition of Woolco. The stores where then renamed to ASDA. The
Woolco concept couldn’t have been more congruent to the U.S. business model of Wal-Mart as it
had its own “Every Day Low Price” strategy. In contrast to the US operations, ASDA was
originally and still remains primarily a grocery chain, but with a stronger focus on non-food items
than most UK supermarket chains.
In addition to small suburban ASDA stores,

similar to neighboring stores in the US, ASDA
mainly offers larger stores as ASDA
Supercentres, as well as ASDA Superstores. As
further concept they have ASDA living, a store
format offering mainly goods for furniture,
decoration and living.11
Development and Future Figure 3: Wal-Mart's biggest acquisitions
The acquisition of the Woolco stores in the UK was the

largest acquisition Wal-Mart ever made. It gave Wal-Mart
a store and logistic infrastructure on an interesting but well
developed market. The retail business in the UK is not
growing any more. A further increase in sales can only be
realized by new store concepts like suburban ASDA, home Figure 4: ASDA market share in the UK
delivery services or extrusion of competitors. ASDA has a

big part of the UK retail market share but is also in strong competition with other retail brands.
3.3 Canada
Canada has been one of Wal-Mart’s most successful international expansions. It entered the
market through the purchase of Woolco stores in 1994. Wal-Mart renovated the stores, upgraded
the distribution systems and was able to deliver the same low prices it did in the U.S. Wal-Mart is
operating under the name Wal-Mart in Canada and offering Discount stores as well as
11
Walmart Fact UK
Page 6
supercentres. The supercenters were first introduced in 2006 and were a great success. Wal-Mart
managed to increase Woolco’s market share from 15% to nearly 50% market share in their target
segment.12

The Canadian culture is very similar to the one in the US. Therefore the same business concept is
working very well. The company has expanded rapidly since the start of the business. With the
introduction of the Supercenter format in Canada 2006, Wal-Mart created a well accepted growing
store format. Wal-Mart is further expanding on the Canadian market increasing their number of
stores. Wal-Mart is committed to being Canada’s price leader and one-stop shopping destination.
The company is Canada’s fastest-growing retailer in both the grocery and general merchandise
sectors.
3.4 Brazil
Wal-Mart Brazil began its operations in 1995 with two supercenters and three Sam’s Clubs in the
state of São Paulo. Since then, the company has become the third largest retailer in Brazil. The
company did not only grow in an organic way, it also conducted two big acquisitions: Bompreço’s
118 stores in the northeast region of Brazil and Sonae’s 140 stores in the south region. With these
acquisitions, Wal-Mart Brazil grew from a two brand company to a nine brand company and
added many different store formats to its portfolio.
Wal-Mart is offering its Supercenter and Sam’s Club format in the well developed cities. It is
using the smaller neighborhood concept gained through the acquisitions in the rural areas of the
country to serve the population with an even lower income. Still large portions of the population
continue to buy from street vendors and other small untaxed businesses. But with an increasing
income the Brazil market offers many opportunities for Wal-Mart.13
3.5 Central America

In 2005, Wal-Mart acquired a minority stake in the American Retail Holding Company
(CARHCO) from the Dutch retailer Royal Ahold NV. In 2006 they increased the stake to 51%.
Wal-Mart is able to serve large parts of the central and Latin American market now. They are
12
Walmart Fact Sheet Canada
13
Walmart Fact Sheet Brazil
Page 7
offering Wal-Mart supercenters in the developed cities and many smaller stores under the prior
local name in the countryside and rural area.14
3.6 Latin America

Wal-Mart Argentina was founded in 1995 with a Sam’s Club Store. The first Supercenter opened a
few months later. In October 2007, Wal-Mart acquired some Auchan stores in Argentina,
converted the stores into Wal-Mart Supercenters. Additionally, they operate a number of
supermarkets and smaller stores under different store brands.
In Chile, Wal-Mart acquired a large part of a local retail chain in 2009. They are operating the
stores under their prior names.15
3.7 Africa
In 2011, Wal-Mart acquired a majority stake in Massmart Holdings Limited. The brand is offering
general merchandise, home improvement equipment and supplies. The group runs several
wholesale and retail chains in one big buying group. Wal-Mart now has access to 13 Sub-Saharan
African countries. The group is offering its products in the known store formats: Supermarkets,
Hypermarkets, Discount stores, Cash and Carries and neighborhood stores.16
3.8 China
The retail operations of Wal-Mart in China started in 1996, offering Supercenter and Sam’s Club
shops. Neighborhood markets soon followed. In 2007, Wal-Mart China invested in the
hypermarket chain Trust-Mart pushing the concept of large retail units in well developed areas of
the country. The operation is a JV with a Chinese partner due to legal restrictions.17
3.9 India
In 2007, Wal-Mart started a joint venture with Barthi Enterprise in India offering a wholesale cash
and carry with a back-end supply chain. Due to legal restrictions and the purchase behavior of the
Indian population, this was is at the time the only possibility to step into the growing market.18
14
Walmart Fact Sheet Mexico
15
Walmart Fact Sheet Argentina
16
Walmart Fact Sheet SubSahara Africa
17
Walmart Fact Sheet China
18
Walmart Fact Sheet India
Page 8
4. Development of country portfolio

Having the United States as home market, internationalization was not necessary for a long time.
The potential of this market is enormous and gave the
company room to grow for many years. When
recognizing the first signs of saturation in some areas of
the US, Wal-Mart started to expand in the neighboring
countries. The international business is yet not of great
importance but growing. Canada is culturally identical
to the US. Therefore the company decided on full
consolidation of the Woolco chain to enter the market. Figure 5: Walmart Global Sales
Mexico, being on the south border of the US, was developed by a joint venture (JV) first. Later it
was completely consolidated. They decided on the JV to reduce the risk on a market that was
different to the home market. After first positive experiences and adjustments to the portfolio and
store design in Mexico, Wal-Mart further increased their involvement on the Central and South
American market. The market potential in China was seen very early and the first investments
have been made in 1996.
Figure 6: Country portfolio development
In the mid 90ies Wal-Mart tried to enter Europe. Germany was chosen as a stable market and to
serve as Bridgehead to the rest of Europe and Eastern Europe. The stability of the German market
Page 9
was important to balance the risky investments in China, Brazil and Korea at that time. The
entrance was done by full acquisition and failed due to several reasons, among them cultural
differences and competition. The German investment was followed by the entrance on UK market
to increase market presence on stable and big markets in Europe.
In recent years, Wal-Mart has further increased their market presence in Central and South
America, regions in which they have been successful for many years now. To ensure presence on
all emerging markets, Wal-Mart has started a JV in India in 2007. In 2011, Wal-Mart also entered
the Sub-Saharan, African market with a big acquisition.19
5. Evaluation of Wal-Mart’s International activities

Wal-Mart has been highly successful on the North-American market. The cultural acceptance of
their business model of selling low price products with a high in-store service is well accepted.
The success and positive development in Canada and Mexico has made Wal-Mart to the market
leader in those countries in the last 20 years.
Wal-Mart's investments outside North America have had mixed results. Its operations in the
United Kingdom, South America and China are highly successful, whereas ventures in Germany
and South Korea have failed. The successes and failures can be either devoted to the business
model and/or a cultural dimension.
The United Kingdom is very similar to US market and the acquisition of an identical store format
with the same philosophy was hard to fail. Wal-Mart increased the market share by introducing
their well established logistic and IT infrastructure and therefore improved the company’s
performance. The investments in South America had been culturally “prepared” by the
experiences gained on the Mexican market. Wal-Mart learned about their needs and adjusted their
preferred store format and their product range according to country singularities.
The entrance on the Chinese market was via a JV. The right adjustment in the assortment could
easily be made with the knowledge of the JV partner. The business model of cheap prices suits the
Chinese consumer very well, since they are seeking for personal benefits when shopping. In
addition, the Chinese market is the emerging market with the biggest growth rates, driving more
people to the centers and allowing more people to shop in the Wal-Mart stores.
19
Wal-Mart Stores, Inc. Data Sheet - Worldwide Unit Details January 2012
Page 10
In South Korea Wal-Mart failed because it retained to Western marketing strategies that
concentrated on dry goods and merchandise ranging from electronics to clothing, while their local
rivals focused on food and beverages, a segment that attracts South Koreans to hypermarkets. The
Wal-Mart outlets were simpler in appearance than those of other competitors. Wal-Mart tried to
sell its products by the box, while competitors built eye-catching displays and hired clerks who
hawked their goods with megaphones and hand-clapping.
As for the main reason for Wal-Mart’s failure on the Germany market, one can say that they were
not able to draw a competitive advantage from their low price strategy. Due to the high
competition, many other companies have used a similar low price strategy. In addition, Wal-Mart
did not consider any cultural differences, neither for the employees or their customers.20
As a critical review on all international activities, one can conclude that Wal-Mart was successful
whenever the market was similar to their home market in the US or they had a partner on their side
and could learn the cultural singularities from the partner. Every time they tried to enter a new,
different market on their own, they failed.
6. Critical review
The basis and the core business of Wal-Mart still is the US market. The core business in the home
market has been unchanged for the past 20 years and is likely to remain so for the foreseeable
future. It is unlikely that any competitor can challenge Wal-Mart for dominance in low costs as
well customer reach within the near future. With stable sales of around $300bn from a home
market, the expansion policy is laid on a solid foundation.
The current country portfolio covers almost all continents and markets. It includes saturated,
growing and emerging markets. The risks being involved in emerging and growing markets are
insignificant compared to the total sales figures. The last expansions made in the growing South
American market are investments in a “known” market, since the company can build on previous
experience and success in the region.
Growing into new markets and regions, Wal-Mart’s strategy had been to acquire companies and to
integrate and convert them into the Wal-Mart stores. It has to be considered that European retailers
20 "In Deutschland ein Zwerg". Stern. February 18, 2005.
Page 11
like Carrefour and Ahold, have more than 20 years more of international experience, since Wal-
Mart started only in the 90’s to internationalize.
Wal-Mart must be careful about the speed and the number of acquisitions they make. They grew
very fast in the recent years and must ensure that the integration and conversion of those chains
into the Wal-Mart group and system works out.
Figure 7: Walmart Store count vs. Sales per Store21
They also should consider that their recent growth took

place in less developed and low wage countries. On the
one side, this gives huge opportunities to grow and open
new stores. On the other side, the financial power of the
people and therefore the purchasing power is much
lower. This decreases profitability per store and overall.
Figure 8: Profitability of national vs. international The margins are much lower.
stores1
7. Further improvement
Early market entrants seem to have an advantage, but also often make costly initial mistakes,
making life easier for disposed second-wave competitors. Having the market power and capital, it
could be helpful for Wal-Mart not to be present on every market from the beginning. They can
concentrate on their current markets and carefully observe the “new” markets. If the new markets
turn out to be stable, Wal-Mart can enter the markets via acquisition.
21
http://retailsails.com/monthly-sales-summary/wmt/annual/
Page 12
Successful market entry involves more than just finding available real estate or a local partner. The
brands and the strategy must fit markets. In its internationalization strategies Wal-Mart has to
consider more features to focus on for competitive advantage. Cost leadership is not the only
success factor as many other retailers also focus on this point.
As Wal-Mart sees emerging markets as a significant source of growth, it could expand into Russia
as Russia makes a perfect target for Wal-Mart because of its economic progress in recent years.
Australia would be another perfect market for Wal-Mart as Australia has had one of the most
outstanding economies of the world in recent years. Also, the Australian culture has the same
Anglo-Saxon roots.
The cultural value is the main factor that influences the success of a market entry on an
international basis. Wal-Mart has to realize and analyze the countries’ singularities and adjust its
strategy and business operations accordingly. If they do so, Wal-Mart has the market power and
size to keep and increase their number one position in the world.
Page 13
Works cited
Wal-Mart, Annual Report 2012, retrieved 30.05.2012

Business Directory, http://www.businessdictionary.com/definition/Wal-Mart.html, retrieved
30.05.2012
http://vinodp.com/documents/investing/Wal-MartValuation.pdf, retrieved 30.05.2012
Wal-Mart, http://www.walmartstores.com/AboutUs/7603.aspx, retrieved 31.05.2012
Kyle Kim, http://www.globalpost.com/dispatch/news/regions/americas/mexico/120424/wal-
marts-international-reach-infographic, retrieved 31.05.2012
Wal-Mart, Walmart Fact Sheet Mexico
Josh Zachariah, http://www.gurufocus.com/news/129746/the-international-business-of-walmart
Miguel Hidalgo, http://topics.nytimes.com/topics/news/business/companies/wal-mart-de-mexico-
sab-de-cv/index.html, retrieved 03.06.2012
David Barsto, http://www.nytimes.com/2012/04/22/business/at-wal-mart-in-mexico-a-bribe-
inquiry-silenced.html?_r=1&ref=walmartdemexicosabdecv, retrieved 04.06.2012
Wal-Mart, Walmart Fact UK, retrieved 03.06.2012
Wal-Mart, Walmart Fact Sheet Canada, retrieved 03.06.2012
Wal-Mart, Walmart Fact Sheet Brazil, retrieved 03.06.2012
Wal-Mart, Walmart Fact Sheet Mexico, retrieved 03.06.2012
Wal-Mart, Walmart Fact Sheet Argentina, retrieved 03.06.2012
Wal-Mart, Walmart Fact Sheet SubSahara Africa, retrieved 03.06.2012
Wal-Mart, Walmart Fact Sheet China, retrieved 03.06.2012
Wal-Mart, Walmart Fact Sheet India, retrieved 03.06.2012
Retailsails, http://retailsails.com/monthly-sales-summary/wmt/annual/, retrieved 03.2012
Page IV
Table of Figures
Figure 1: Distribution of Walmart Worldwide Sales ........................................................................ 2

Figure 2: Wal-Mart Worldwide presence ......................................................................................... 4
Figure 3: Wal-Mart's biggest acquisitions ........................................................................................ 6
Figure 4: ASDA market share in the UK ............................................................................................ 6
Figure 5: Walmart Global Sales ........................................................................................................ 9
Figure 6: Country portfolio developement ...................................................................................... 9
Figure 7: Walmart Store count vs. Sales per Store ........................................................................ 12
Figure 8: Profitability of national vs. international stores ............................................................. 12
Page V

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MBA Course - Retailing and

Lecturer: Professor Dr. Morschett

Author: Dominik Jäkle 2536881

1. Overview and Company Strategy

2 Country Market Portfolio

2.1 United States of America – The Home Market

Development and Future

Development and Future

3.2 United Kingdom

In addition to small suburban ASDA stores,

The acquisition of the Woolco stores in the UK was the

delivery services or extrusion of competitors. ASDA has a

Development and Future

3.5 Central America

3.6 Latin America

4. Development of country portfolio

Figure 6: Country portfolio development

5. Evaluation of Wal-Mart’s International activities

20 "In Deutschland ein Zwerg". Stern. February 18, 2005.

Figure 7: Walmart Store count vs. Sales per Store21

They also should consider that their recent growth took

Wal-Mart, Annual Report 2012, retrieved 30.05.2012

Figure 1: Distribution of Walmart Worldwide Sales ........................................................................ 2

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