Wal-Mart (WMT) Growth Plans Keep Stock Price Strong Over $61 Per Share

Wal-Mart’s (NYSE:WMT) Canadian unit will invest over $750M in 73 projects in the next 12 months, as it moves to stay ahead of Target (NYSE:TGT) and other competitors, reports Reuters. Walmart Canada operates 333 stores in the country, and plans to add 4.6M square feet of retail space to its operations in the next year.

Apple (NASDAQ:AAPL) may expand its Apple Store-in-store program beyond Best Buy (NYSE:BBY) and Target (NYSE:TGT) by using a similar model in partnership with Walmart-owned (NYSE:WMT) Sam’s Club, according to 9to5 Mac sources.

Sam’s Club (NYSE:WMT) and Apple are talking about store-in-stores, as well as a backup plan of Sam’s Club (NYSE:WMT) simply selling Apple’s Macs but without the Apple Store features, the report noted.

Greg Foran, a veteran of Woolworths, has been named as the president and CEO of Wal-Mart China (NYSE:WMT), Reuters reports. Foran will replace Ed Chan, who stepped down following last year’s pork mislabeling scandal.

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com