- After years of proclaiming China as one of its top markets, Wal-Mart (NYSE:WMT) lowered its status in August as the worst of its major countries. A management shake-up and job cuts have followed.
- A Bloomberg report suggests that Wal-Mart’s retail business in China has been deteriorating for years, but was hidden by questionable accounting and sales practices, including bulk sales and sales being allegedly booked when no merchandise left the shelves.
- WMT -0.3% AH