Sam’s Club finds success in China, WSJ reports

While consistently the number 2 warehouse-club company in the U.S., Walmart-owned (WMT) Sam’s Club has been able to beat out Costco (COST) in China, Hannah Miao and Sarah Nassauer of The Wall Street Journal reports. Sam’s Club has opened 60 stores in China, up from 39 three years ago, generating over $500M sales annually. Meanwhile, Costco opened its first store in the country in 2019 and has seven total locations. In China, Sam’s Club has been able to distance itself from Walmart’s budget reputation, carving out a niche as a premium chain offering high-quality items.