Walmart may consider acquiring local retailers in China as it expands into new regions. Walmart International chief financial officer Cathy Smith said: “There are whole provinces in China that we haven’t even begun to think about.”

However, she added that acquisitions are generally Walmart’s least-preferred way of growing because they are an inefficient use of capital. “However, we know that that is a great way to add regional perspective when we don’t have it,” Smith said.

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