BENTONVILLE, Ark., Fri Oct 26, 2012 – Wal-Mart Stores Inc (WMT.N) plans to open 100 more stores in China and create 18,000 jobs there over the next three years, it said on Friday, in a bid to boost its presence in China’s booming but highly competitive hypermarket sector.
Wal-Mart, which has 370 stores and more than 100,000 employees in China, was a pioneer in the market, but now faces much greater competition from Britain’s Tesco Plc, Germany’s Metro AG, France’s Carrefour and domestic firms, as well as a slowing economy.
China’s hypermarket sector, in which retail sales reached 506.9 billion yuan ($81 billion) last year according to Euromonitor, includes the world’s three largest retailers in Wal-Mart, Carrefour and Tesco, and domestic brands led by Sun Art Retail Group.
PASADENA, Calif. — Broadcast network executives departing the informal talks known as the Television Critics press tour last week pretty much agreed on one thing: It is time to start acting more like cable networks.
That applies not only to the newest roster of network programs, which are increasingly being influenced by standout cable series like “Homeland,” “Breaking Bad” and “Justified,” but also to how forthcoming network entries like “Smash” on NBC, “The River” on ABC, and “Touch” on Fox are going to be marketed and scheduled.
The networks have embraced the idea — originally hatched by cable networks — of introducing initial episodes of their shows through other distribution outlets like YouTube before they have their premiere on their own schedules. And executives also suggested that a growing number of series might shift to the cable model of 10 to 13 episodes a season — to be run consecutively with no pre-emptions or repeats — rather than 22 to 24 episodes spread out over nine months.
That the strategies found on cable are infiltrating the broadcast networks comes as little surprise, since three of the four network programming chiefs built their reputations at cable networks: NBC’s Bob Greenblatt at Showtime; Fox’s Kevin Reilly at FX; and ABC’s Paul Lee at the Disney Family Channel.