Wal-Mart opens Moscow office, eyes Russian market


Wal-Mart Stores, Inc. (NYSE: WMT) has been keen on international expansion in the last 18 months or so, with its exit from some unprofitable markets and entrances into more promising ones. In recent developments, the world's largest retailer has opened an office in Moscow, Russia, amid efforts to take advantage of another significant non-U.S. opportunity for growth.

Not only that, but Wal-Mart has joined the Russian Association of Retail Companies, one of the larger trade groups in that country. Wal-Mart still has not released a public timeline regarding actually opening stores in Russia, nor has it released what kind of strategy it will have there. Although it may seem like the retailer is just getting its feet wet in another international market, it will move swiftly once it decides where it wants to go. Expect that decision sometime before the summer of 2009.

Wal-Mart's share price, which today hovers near the $48.18 mark, has not taken a beating in recent market downward trends at all. In fact, it has stayed pretty normal considering it is operating the largest retail presence on the planet, with a global economy in upheaval and the U.S. transforming its economic model to a pseudo-socialistic one in many industries. The population can't stop eating or buying clothes, though. As a result, Wal-Mart keeps benefiting and bringing its retail flair to other countries won't hurt a bit.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-89.2312,801.23
NASDAQ-23.352,903.88
S&P 500-9.311,342.64

Last updated: February 13, 2012: 07:12 AM

Hot Stocks

General Electric

18.875-0.255(-1.33)

Alcoa

10.29-0.35(-3.29)

Apple Inc

493.42+0.25(+0.05)

Google Inc 'A'

605.91-5.55(-0.91)

Bank of America

8.07-0.11(-1.34)

Wal-Mart Stores

61.90-0.06(-0.10)

Exxon Mobil Corp

83.80-1.08(-1.27)

Ford

12.44-0.25(-1.97)

Citigroup

32.925-0.735(-2.18)

IBM

192.42-0.71(-0.37)

Yahoo

16.14+0.14(+0.88)

Starbucks

48.82-0.38(-0.77)

Microsoft

30.495-0.275(-0.89)

Home Depot

45.33+0.06(+0.13)

DailyFinance Headlines

Benzinga Headlines

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

DailyFinance BlackBerry App

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

BioHealth Investor Headlines

Page Loaded in 1329135154838 ms.