Source: Lisa M. Keefe, MEATINGPLACE, 5/1/15

In the face of declining sales in China, Wal-Mart Stores Inc. has decided to double down on its bet on the world’s second-largest economy with a nearly one-third expansion of the number of stores it has there, according to a report by Reuters.

The retail giant will add 115 stores in China by 2017, the company’s chief executive said at the news conference earlier this week. "Our aim is to become an integral part of China's economy," Reuters quotes CEO Doug McMillon as saying. "China is a top priority."

Besides plans for news stores, Wal-Mart will close some under-performing locations and boost grocery sales through its online ordering service, which offers 8 million products for delivery overall.

Sales for a number of global supermarket chains doing business in China have slowed. For Wal-Mart, comparable-store sales for the quarter ended Jan. 31 dropped the equivalent of 2.3 percent. The French firm Carrefour SA and Britain's Tesco PLC also have lost market share to local rivals over the last several years, Reuters said, referencing data from consumer analytics firm Kantar Worldpanel.

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