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Wal-Mart to grow Neighborhood Markets to 500 strong by 2016
Rogers, Ark. -- In its annual meeting with analysts on Wednesday, Wal-Mart Stores U.S. president Bill Simon said the retailer would accelerate small-store growth to compete with dollar stores and drug stores, and announced plans to have 500 Neighborhood Market stores and 12 Express stores by fiscal 2016.
“This gives us the opportunity to build more stores for less money," Simon said. Wal-Mart currently operates 217 Neighborhood Markets and 10 Express stores.
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Shopko CEO lands at Payless
Topeka, Kan. -- Following earlier reports on Wednesday that Shopko CEO Paul Jones had departed the company to pursue another opportunity, Payless Holdings has announced that Jones has stepped in as chief executive for the shoe chain.
Jones, whose appointment is effective Oct. 22 and whose retail history includes executive positions with Sears and Kohl’s, will be based in Topeka.