Submitted by: Wal-Mart Stores, Inc.
Posted: May 14, 2008 – 09:04 AM EST
May 14 /CSRwire/ - BENTONVILLE, Ark., May 13 /PRNewswire-FirstCall/ -- Wal-Mart announced today it is providing more than RMB 3 million (US $430,000) in disaster relief and reconstruction for the central part of China that has been affected by the worst earthquakes in more than 30 years. Monday's massive earthquake, with an aftershock registering at 7.8 on the Richter scale, caused significant loss of life and has left many others without homes and power.
A portion of the RMB 3 million contribution will be given to the China Red Cross for disaster relief. In addition, assistance will be provided to help reconstruct the devastated communities. Partnering with local communities and authorities, Wal-Mart stores and its Trust-Mart stores in China have been providing essential supplies and assistance to our associates, customers and neighbors in the impacted areas -- donating water and other emergency related products such as food, batteries and clothing, valued in the hundreds of thousands of RMB.
"Giving back to our communities, especially in a time of need, is part of our culture," said Wal-Mart China President and CEO Ed Chan. "This earthquake has brought much hardship and sorrow to Sichuan Province and surrounding areas and we want to do our part to help those who have been affected by this disaster."
"Every day we strive to improve the lives of the families who live in the communities we serve. A crisis only reinforces that commitment," said Vicente Trius, President and CEO, Wal-Mart Asia. "Given the impact of this earthquake on our own communities and associates, we wanted to reach out with assistance as soon as possible."
Wal-Mart began its retail operations in China in 1996 when it opened a Supercenter and Sam's Club in Shenzhen. Neighborhood Markets soon followed, and in February 2007, Wal-Mart China invested in the hypermarket chain Trust-Mart, which operates more than 100 retail units. In total, Wal-Mart and Trust-Mart currently operate 205 retail outlets in China.
About Wal-Mart Stores, Inc. (NYSE: WMT)
Wal-Mart Stores, Inc. operates Wal-Mart discount stores, Supercenters, Neighborhood Markets and Sam's Club locations in the United States. The Company operates in Argentina, Brazil, Canada, China, Costa Rica, El Salvador, Guatemala, Honduras, Japan, Mexico, Nicaragua, Puerto Rico and the United Kingdom. Wal-Mart serves more than 176 million customers weekly in 14 markets. The Company's securities are listed on the New York Stock Exchange under the symbol WMT. For more information: www.walmartfacts.com.
About Wal-Mart in China
Wal-Mart entered the Chinese market and opened its first store in Shenzhen in 1996. Currently Wal-Mart operates three store formats in China including Supercenters, Sam's Clubs and Neighborhood Markets. It also holds a 35% stake in Trust-Mart. As an outstanding corporate citizen, Wal-Mart has donated funds and in-kind support worth more than RMB36 million to local charity and welfare organizations over the past eleven years, and has won awards such as "Best Employer", "Best Community Involvement", "Supplier Satisfaction Recognition" and "Most Admired Company". For more information about Wal-Mart in China, please visit www.wal-martchina.com.
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