WalMart incurs higher Charges

• Posted by T Ghosh February 2, 2014 - Filed in Business - #business  #walmart  - 1,101 views

   Wal-Mart which is American retail giant now expects  higher expenses related to its split with Indian joint venture partner Bharti Enterprises.
  
  It will be impacting its quarterly as well as full-year earnings on arious charges, including that related to India joint venture.
  
  The  six-year long partnership between Wal-Mart and Bharti Enterprises came to an end last October. They had decided to independently own and operate separate business formats in the country.

  
   Wal-Mart had said it was studying the feasibility of India's FDI policy in multi-brand retail before finalising plans to enter the segment after parting ways with Bharti group last year.
  
  The retailer has also registered a new company called 'Wal-Mart India Private Ltd' in that country.
  
  "We are excited about India and we continue to be so. We see the potential of the country and we have a long term view. At the moment we are focussed on cash and carry business under our Best Price brand," Wal-Mart President and CEO Doug McMillon had told PTI last month.
  
  When asked about registering a new company in India, McMillon had said that Wal-Mart is positioning itself for the future, but the focus for the moment remains on Best Price cash and carry format.
  
  Regarding possible timeline for multi brand entry, McMillon had said it is not possible as of now to predict any timeline as it would depend on the decision taken by the "people of India and the government of India with regard to the regulations for foreign direct investment."