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Retail

Walmart To Accelerate Convenience Store Rollout

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Walmart To Accelerate Convenience Store Rollout

Walmart, world-renowned for big box retail - has made the decision to seriously invest in small convenience stores throughout the US.

After disclosing a fourth-quarter loss on weak consumer spending, the world’s biggest retailer said it’s doubling the number of smaller-size stores it operates in its home market. The company announced that same-store sales overall dropped 0.4%, their fourth consecutive quarterly decline. 

The retail giant, which also owns British supermarket chain Asda, is expanding its original capital forecast provided in October, and now expects to add approximately 270 to 300 small stores during 2014, doubling the initial forecast of 120 to 150 stores. Walmart US will continue its plan to open approximately 115 new supercenters this year.

“Customers’ needs and expectations are changing. They want to shop when they want and how they want, and we are transforming our business to meet their expectations,” Bill Simon, Walmart U.S. president and CEO, said in Thursday’s earnings report.

“Customers appreciate the broad assortment of our supercenters for their stock-up trips as well as our small store formats for fill-in trips.

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By unlocking this growth opportunity and further combining our supercenters and small store formats with an unlimited selection available through e-commerce, we provide our customers with anytime, anywhere access to our brand.”

“Walmart has a long history of embracing change,” Doug McMillon, who became Walmart’s youngest CEO this month, said Thursday on a conference call.

© 2014 - European Supermarket Magazine by Enda Dowling

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