Citigroup is out with a big report today highlighting Wal-Mart’s burgeoning international business.
So what are the retailer’s big non-US markets?
Here you go. China, which gets a lot of hype, remains just a sliver of the company’s business.
Of course, Wal-Mart’s stake in each market isn’t the same because in some cases it works with local partners.
Note: *WMT owns 225 stores and has a 35% stake in Trust-Mart, but is expected to purchase Trust-Mart in May 2011. As such, for the purposes of the sum-of-the-parts analysis, CIRA assumes 100%.