Wal-Mart (WMT) is planning to enter the market for local convenience stores in large cities, The Financial Times reported.

Wal-Mart, the largest U.S. retailer, is looking at property for smaller-format stores in urban areas including San Francisco and Detroit.

"They've been looking at sites between 20,000 and 50,000 sq ft over the summer," one broker in northern California told the FT.

The company will outline its business plans later this year, Bill Simon, Wal-Mart's CEO for the U.S., told the FT. The plans will include convenience stores similar to those it runs in Latin America.

The company is currently planning to enter the Chicago market with more than 20 stores, a mix of supercenters and small-format stores.

"You'll see us taking the Chicago approach with other cities," Simon said.

Increase your money and finance knowledge from home

Investing in Emerging Markets

Learn to invest in a globalized world.

View Course »

What is Short Selling?

Make a profit when stocks prices fall.

View Course »

Add a Comment

*0 / 3000 Character Maximum


Filter by:

walmart is going to take itself under,why? because of greed and stealing from it's employees the company has place itself up for a fall. walmart also has to remember whatsoever you sew that you will reap.

October 10 2010 at 4:24 PM Report abuse rate up rate down Reply

I don't know if I'm the only one to notice, but Walmart is failing.

September 20 2010 at 8:12 AM Report abuse +1 rate up rate down Reply