Walmart is going small. Mostly.
In addition to releasing its fourth-quarter results (more about that in a bit), the company announced that it was doubling the number of openings of its smaller format stores this year. The company now plans to add approximately 270 to 300 small stores, which comprise its Neighborhood Markets and Walmart Express formats, up from 120 to 150 predicted just in October.
"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," said Bill Simon, Walmart U.S. president and CEO, in the press release. "Customers appreciate the broad assortment of our supercenters for their stock-up trips as well as our small store formats for fill-in trips. By unlocking this growth opportunity and further combining our supercenters and small store formats with an unlimited selection available through ecommerce, we provide our customers with anytime, anywhere access to our brand."
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