Walmart is no longer king of the hill in the retailer universe, and the Bentonvile Behemoth didn't lose that coveted spot to Amazon. No, the new behemoth is China's Alibaba Group. There is no hint of this at present, but I have to wonder if the retailer famous for importing cheap plastic crap from China could become the subsidiary of a company in China. Now that would be irony. Tyler Durden, writing in Alibaba Surpasses Walmart As Largest Retail Company In The World for Zero Hedge reports:
We may not have the exact numbers yet, but in a filing with the SEC on Tuesday, China's online retail behemoth Alibaba Group announced that it had "become the largest retail economy in the world" at the end of its fiscal year on March 31, "as measured by gross merchandise volume on its China retail marketplaces." As IBT notes, the company has yet to declare its financial results for its last quarter and the complete fiscal year, but the announcement makes it clear that BABA surpassed the $482.1 billion in 2015 revenues reported by Wal-Mart Stores Inc. for its fiscal year ended Jan. 31
So, the difference is only $7.3 billion, but this comes at a time when the Chinese economy is still recovering from a slump over the past couple of years. What happens to Walmart when the dragon reawakens? Jeff Hess: Have Coffee Will Write.

Leave a Reply

To prove you're a person (not a spam script), type the security word shown in the picture. Click on the picture to hear an audio file of the word.
Anti-spam image