Walmart Plans Smaller Stores in Major Cities

Walmart WMT has a new business model. The company plans to set up small convenience stores, starting in Chicago and Los Angeles. Walmart already is test marketing its small-store concept in Arizona. They have 10,000-square feet stores under the Marketside by Walmart banner, as well as 20,000-square feet stores under the Neighborhood Walmart logo. Bill Simon, chief executive of of Walmart's U.S. business stated in the Financial Times that detailed plans will be disclosed next month. Simon is taking a cue from Walmart's small Bodega Aurreura Express stores in Mexico and Latin America. See the rest here.