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Reuters
Published
May 23, 2011
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Walmart eyeing Europe with new London team

By
Reuters
Published
May 23, 2011

May 22 - Retailer Wal-Mart Stores is setting up a team in London to drive expansion into Europe, The Independent on Sunday newspaper reported.

Wal-Mart
Family of shoppers walking through parking lot towards a Wal-Mart store entrance in thr United States (Photo: Corbis)

The world's largest retailer will bring a team to London to look at opportunities for European mergers and takeovers, and has hired Cushman & Wakefield to search for office space for 35-55 people, the newspaper said.

Wal-Mart said in first-quarter results published on Tuesday that key U.S. sales fell 1.1 percent. At Asda, its British arm, sales growth slowed.

A Wal-Mart spokeswoman told Reuters the report was "speculation dressed up as fact." (Reporting by Lorraine Turner; Editing by Dan Lalor

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