Wal-Mart reveals its plans for South American expansion.

Wal-Mart plans to open more stores in Argentina and Brazil in 1996. This was revealed by Dan Owens, the company's general merchandise manager for South American operations, before a group of US manufacturers at the WorldWide D-I-Y Council's annual meeting in San Diego, CA. The plan was put up in response to the stiff competition posed by France-based Carrefour to Wal-Mart's existing stores in the two countries.

Wal-Mart, the leading mass merchandise retailer in the world, is moving swiftly to expand its sphere of influence in South America, with several more store openings planned