The Wall Street Journal reports that Walmart (NYSE: WMT) has started an investigation of bribery change in some of its overseas operations.
The paper reports,
The world’s largest retailer said in a regulatory filing with the Securities and Exchange Commission Thursday that it had discovered some potential improprieties as part of an internal review begun earlier this year of how it was complying with the law. The company said it had hired outside lawyers and advisors to assist with its review.
It is not clear where the violations may have taken place. Walmart cannot afford to have any of its international operations compromised. It sales in the US, through Walmart and Sam’s Club–have flat lined. International growth has been at a pace of 15% to 20%. This has been driven primarily by operations in China and Mexico.
The investigation will bring Walmart negative publicity and a distraction for management, at the very least
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