Why Wal-Mart is Betting Big on Small Stores
Big box is so last decade. That's why Wal-Mart is upping the ante on its expansion efforts with smaller stores. According to Bill Simon, head of Wal-Mart's U.S. division, who spoke on an industry conference call yesterday, "They compete really well against multiple channels," including competitors such as Dollar General, Walgreens and supermarkets. Simon said the company plans to add 115 new outlets that have less than 60,000 square feet of selling space this year. Wal-Mart's not abandoning the big box yet, however. Simon says to expect 125 supercenters to open this year, too.