Wal-Mart closing outlets to meet market

Wal-Mart Stores Inc is closing five more stores in China this month as it seeks to reposition itself for a challenging market.

Earlier this month, the United States-based company, the world's largest retailer by revenue, closed an outlet in Chongqing municipality and one store each in Yancheng, Jiangsu, and Changde, Hunan.

By the end of this month, two stores in Ma'anshan, Anhui province, will also be closed.