Walmart is looking to tighten its grip on the US retail market by opening a series of smaller stores.
In a development that echoes recent moves by its UK subsidiary, the Asda parent is planning to open a raft of smaller outlets in key urban markets such as New York and Chicago.
“They’ve been looking at sites between 20,000 sq ft and 50,000 sq ft over the summer,” one US property broker told the Financial Times.
Walmart will reportedly outline its expansion plans next months.
Bill Simon, who runs the retail giant’s US business, said Walmart would follow the c-store blueprint set out in Mexico and Latin America.
The news comes after reports today that Tesco boss Sir Terry Leahy originally intended to open 10,000 convenience stores as part of an ambitious, £1.25bn blueprint for US expansion.
Tesco ‘planned 10,000 c-stores in US’ (20 September 2010)
Morrisons in new online and c-store experiment (10 September 2010)
Is Netto a good catch for Asda and what’s the plan? (analysis; 5 June 2010)
Asda in shock swoop for discounter Netto (27 May 2010)