Walmart Eyes Sale of International Unit

Walmart Stores Inc. (Bentonville, Ark.) is reportedly in talks to sell its Latin American international unit, which is headquartered in São Paolo. The speculation further highlights the retailers recent push to bolster its e-commerce efforts.

The deal is purported to be a buyout from Advent Intl. Corp. (Boston) and is viewed to be a response from Walmart to its weak performance in the international market. Women’s Wear Daily reports that a source familiar with the situation commented that the talks are in a “very preliminary” phase. Walmart declined to confirm or deny the news with WWD.

Earlier this month, the mass merchant raised its hourly wage of full-time employees to $11 an hour, an announcement that was quickly overshadowed by its swift and sudden decision to shutter 10 percent of its Sam’s Club stores, totaling 63 closures.