The world's largest retailer, Walmart Stores, on Wednesday closed an outlet in Hangzhou, capital of east China's Zhejiang Province, the seventh closure in the Chinese mainland since March.
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The store near Zhaohui neighborhood was shut down because of its "unfavourable operating performance", said Li Chengfang, regional public relations director of Walmart China.
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"Closing an outlet in China is a tough decision. We tried our very best to avoid the closure," he said.
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Greg Foran, president and CEO of Walmart China, said in October that the retailer in the next three years will open 110 outlets securing 20,000 jobs, mainly in medium- and small-sized cities.
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He also said it would close 9 percent of its 400 outlets in China based on performance.Â
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The world's largest retailer, Walmart Stores, on Wednesday closed an outlet in Hangzhou, capital of east China's Zhejiang Province, the seventh closure in the Chinese mainland since March.
