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BUSINESS BRIEFS.(TO THE POINT)
RETAIL
Wal-Mart boosts China presence
The world's No. 1 retailer will add 11 new stores in '05 as China hews to WTO requirements and eases foreign retailer restrictions. Wal-Mart currently runs 42 stores in 20 Chinese cities, but its expansion plans have been limited by a Chinese government rule permitting only 3 stores per city. The government plans to lift that restriction. Wal-Mart expects to hire 500 people per store. Shares fell 2% to 52.06.
** Limited Brands will buy back 68.9 mil tendered shares at $29 apiece; 87.8 mil shares were tendered in its $2 bil Dutch auction. After the buy, the retailer's outstanding common shares will be 406 mil. Shares fell 3% to 24.44.
** Blyth earned 73 cents a share in Q3, down 4% and a penny over views. ...
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