Wal-Mart purchases China's Trust Mart

Retail Week reports that Wal-Mart is likely to purchase a chain of 100 Trust-Mart hypermarkets in China for an estimated $1billion (US). While the initial deal was only for 31 stores, with the added stores Wal-Mart would likely increase its sales to $2 billion (US) next year.

News reports have suggested that the world’s largest retailer will buy the chain – which posted sales of US$1.42 billion (£762.7 million) last year – from Trust-Mart, a Taiwanese company.