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Walmart to invest $269 million in Canada

from Reuters

Walmart Stores Inc. said it would invest about C$340 million ($269 million) this fiscal year to expand in Canada, lower than what it had budgeted for last year. Walmart's move comes less than a month after rival Target Corp. said it would exit Canada. Sears Holdings Corp. last year lowered its stake in its Canadian operations to about 12 percent, after failing to find a buyer for its holding in the business. Sales and margins at both Sears and Target have dwindled in Canada in the face of stiff competition from Walmart. more

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