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China among worst markets for Walmart

Internal probe points to dubious accounting practices at its stores to meet profit targets

SUPER SPIKE: The practices - including bulk sales to other retailers and some sales allegedly booked when no merchandise left the shelves - made business appear strong even as retail transactions slowed and unsold inventory piled up.


AFTER years of heralding China as one of its best markets, Walmart in August said its performance there was among the worst in its major countries. A management shake-up and job cuts have followed.

Although the reversals seem abrupt, cracks in the foundation of Walmart's