Canaccord Genuity Morning Coffee on Wal-Mart (WMT): Vite Vite!
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Price: $76.47 -0.73%
Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 22 | New: 29
Rating Summary:
7 Buy, 13 Hold, 1 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 19 | Down: 22 | New: 29
Trade WMT Now!
Canaccord Genuity Morning Coffee on Wal-Mart (NYSE: WMT): Vite Vite!
Wal-Mart’s efforts to acquire Latin American assets from Carrefour are slowing as the French retailer focuses on turning around its European business, said people familiar with the matter. Wal-Mart has pressed Carrefour to sell stores in Colombia and Brazil, said the source. Carrefour’s Colombian unit generated 1.69 billion euros ($2.11 billion) in sales last year. Wal-Mart is targeting stores overseas as revenue abroad climbs at 10 times the pace of U.S. sales. Doug McMillon, head of Wal-Mart’s international business, said last month the retailer is open to purchases in Japan and Latin America, and signalled that Colombia could be a possible site of expansion. Wal-Mart and Carrefour have held on-and-off negotiations for more than two years, with U.S. retailer initiating many of the talks, said one of the people. After some conversations this year, Carrefour has slowed the pace of talks as it deals with deteriorating conditions in Europe, according to the source. While Wal-Mart remains interested in the operations, no deal is imminent, said two of these people.
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Wal-Mart’s efforts to acquire Latin American assets from Carrefour are slowing as the French retailer focuses on turning around its European business, said people familiar with the matter. Wal-Mart has pressed Carrefour to sell stores in Colombia and Brazil, said the source. Carrefour’s Colombian unit generated 1.69 billion euros ($2.11 billion) in sales last year. Wal-Mart is targeting stores overseas as revenue abroad climbs at 10 times the pace of U.S. sales. Doug McMillon, head of Wal-Mart’s international business, said last month the retailer is open to purchases in Japan and Latin America, and signalled that Colombia could be a possible site of expansion. Wal-Mart and Carrefour have held on-and-off negotiations for more than two years, with U.S. retailer initiating many of the talks, said one of the people. After some conversations this year, Carrefour has slowed the pace of talks as it deals with deteriorating conditions in Europe, according to the source. While Wal-Mart remains interested in the operations, no deal is imminent, said two of these people.
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