Wal-mart, the world's largest retailer is considering concentrating more on its international stores as well as opening up more stores in other countries for its business growth.
The retailer expects to invest and open 80 percent of its international stores in Canada, china, Mexico and India.
We believe the future of Wal-Mart's success will come from this mixture of mature and emerging markets and the first India store is to open next spring, said Mike Duke, CEO of Wal-Mart International.
Wal-Mart's international operations account for 23 percent of its total annual sales of $348 billion and it expects overseas markets to be an important catalyst to growth, especially with its US sales slowing down.
Currently, Wal-mart is operating more than 3000 stores in 13 countries but it has announced an additional investment of $3billion in opening more overseas stores over the next two years.
The retailer is considering cutting new U.S store investment significantly to about $5 billion over the next two years from its current level of between $6.7 and 7 billion, said Duke.