Mar
15

Walmart Plans 500 Neighborhood Markets by 2016

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Walmart will open as many as 115 small-format stores this year, according to Bill Simon, president and CEO of Walmart U.S.

Simon discussed the chain’s store portfolio during a presentation at Raymond James Institutional Investors conference. He noted that Walmart’s smaller-format stores (below 60,000 sq. ft.) are making inroads against dollar stores, supermarkets and drug stores and will play a key role in the company’s future.

“They compete really well against multiple channels,” Simon said.

Simon explained that Walmart thinks of its smaller-format units, which include both the Walmart Express and Walmart Neighborhood Market banners, as hybrid stores rather than specific niche competitors.

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