Walmart to Open 400 More Mid-Sized Stores
Wal-Mart Stores Inc. plans to accelerate the opening of mid-sized Neighborhood Market stores based on a positive return on investment seen from the 185 existing stores, which is comparable to that of its larger supercenters.
At the William Blair & Co. Growth Stock Conference in Chicago last week, U.S. stores chief Bill Simon reported that Wal-Mart will open 90 to 100 of the stores in the year ending in January, and open 300 more by fiscal 2013. Initial plans in May stated that the retailer would roll out only as many as 40 this year.
The Neighborhood Market stores are roughly the size of typical supermarkets at about 42,000 square feet, and Chief Executive Officer Mike Duke hopes the additional stores will spur growth as surging gasoline prices curb some customers’ shopping trips.
The company also introduced smaller Walmart Express shops in June 2011 to appeal to customers who want to complete their shopping quickly. The first Walmart Express, a 15,000 square foot store, opened in Gentry, Arkansas, about six miles from the nearest Wal-Mart supercenter.
Bloomberg reported that Simon is “pleased” with sales at the first two stores. The retailer opened a third Express store last week in the small town of Richfield, North Carolina, and plans to open the first urban Walmart Express in July.
Both initiatives are part of Wal-Mart’s plan to post positive comparable-store sales in the United States by the end of the year after eight straight quarters of sales declines at U.S. stores open at least a year.
At the William Blair & Co. Growth Stock Conference in Chicago last week, U.S. stores chief Bill Simon reported that Wal-Mart will open 90 to 100 of the stores in the year ending in January, and open 300 more by fiscal 2013. Initial plans in May stated that the retailer would roll out only as many as 40 this year.
The Neighborhood Market stores are roughly the size of typical supermarkets at about 42,000 square feet, and Chief Executive Officer Mike Duke hopes the additional stores will spur growth as surging gasoline prices curb some customers’ shopping trips.
The company also introduced smaller Walmart Express shops in June 2011 to appeal to customers who want to complete their shopping quickly. The first Walmart Express, a 15,000 square foot store, opened in Gentry, Arkansas, about six miles from the nearest Wal-Mart supercenter.
Bloomberg reported that Simon is “pleased” with sales at the first two stores. The retailer opened a third Express store last week in the small town of Richfield, North Carolina, and plans to open the first urban Walmart Express in July.
Both initiatives are part of Wal-Mart’s plan to post positive comparable-store sales in the United States by the end of the year after eight straight quarters of sales declines at U.S. stores open at least a year.