TOKYO, Oct. 29 (UPI) -- After lagging sales in Japan, Wal-Mart plans to increase its presence and invest more into its stores.
Wal-Mart is part owner of the Seiyu supermarket chain and The New York Times reports the company will increase its investment to $1.3 billion, giving it a controlling stake in it.
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It also plans to remodel more than 200 stores by 2010, investing millions of dollars.
David Hamaty of retail consulting firm Kurt Salmon Associates said it is crunch-time for Wal-Mart to make good on its investment.
Seiyu has lost money every year since 2002 when Wal-Mart bought into it.