CIG: Wal-Mart predicts slow economic recovery in U.S.

Oct. 7, 2009 - PRLog -- The Wal-Mart Chairman, CIG understands, was recently quoted as saying that he expects Wal-Mart to ride out a lethargic economic recovery in the U.S. as it gains new customers and market share in China, the world's biggest economy, while more flexible consumer spending supports its Asian operation.

"Our business in the U.S. is very challenging right now... some of the recent economic news is more pessimistic than expected. We are only expecting a slow recovery in the U.S., nothing extremely fast," the chairman said in a recent interview.

"Our business in Asia is a little better than the U.S. We think Asia probably will lead the recovery and we certainly see a recovery occurring in the not too distant future, but it will be slow I believe."

He also pointed out that the company has no immediate plans to open stores in more Asian nations although the firm, which has a market value of $189 billion and competes with Kroger Co, Tesco and Carrefour, among other top players has already announced it will open 50 stores in China, CIG was informed.


Wal-Mart joined forces with India's Bharti Enterprises to open its first store in that nation earlier in the year, and plans to expand to 10 to 15 stores over the next seven years.

Asian retailers survived the financial crisis relatively well according to CIG research, when compared to  their U.S. and European equivalents, driving investors to look for retail publicity as the region leads a global economic recovery.

# # #

CIG is an exclusive, members only, off shore, private equity investment firm that provides consulting services to like minded members of the private equity and alternative investment community.