Wal-Mart Preparing to Break Ground On Smaller Stores
Wal-Mart Preparing to Break Ground On Smaller
Stores
Bloomberg News reported Friday that Wal-Mart Stores Inc has obtained permits to start building the first of its Express stores, which will reportedly be about one-tenth the size of the retailer's supercenters. The first of these smaller Wal-Mart stores will be built, according to the report, in Gentry, Arkansas, a town located about 20 miles to the southwest from Wal-Mart's corporate headquarters in Bentonville.
While Wal-Mart has been relatively tight-lipped about details of the new Express locations, a spokesman did confirm the location of the first. The man also confirmed that construction will begin March 16th, and that the plans are for a 14,400 square-foot store. Officials from the nearby cities of Prairie Grove and Gravette have also confirmed that Wal-Mart will begin building stores there as well. Included in the new stores will be a pharmacy and grocer.
Wal-Mart CEO Mike Duke has been seeking new ways to grow the brand as sales at its supercenters have fallen for seven consecutive quarters. The retailer will reportedly open as many as 40 of these Express locations through the rest of this year, mainly in rural and suburban areas, with the first opening its doors in May.
Bloomberg News reported Friday that Wal-Mart Stores Inc has obtained permits to start building the first of its Express stores, which will reportedly be about one-tenth the size of the retailer's supercenters. The first of these smaller Wal-Mart stores will be built, according to the report, in Gentry, Arkansas, a town located about 20 miles to the southwest from Wal-Mart's corporate headquarters in Bentonville.
While Wal-Mart has been relatively tight-lipped about details of the new Express locations, a spokesman did confirm the location of the first. The man also confirmed that construction will begin March 16th, and that the plans are for a 14,400 square-foot store. Officials from the nearby cities of Prairie Grove and Gravette have also confirmed that Wal-Mart will begin building stores there as well. Included in the new stores will be a pharmacy and grocer.
Wal-Mart CEO Mike Duke has been seeking new ways to grow the brand as sales at its supercenters have fallen for seven consecutive quarters. The retailer will reportedly open as many as 40 of these Express locations through the rest of this year, mainly in rural and suburban areas, with the first opening its doors in May.
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