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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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Survey: Customer preference top concern for retailers
Miami -- While out-of-stock items and inventory performance remain top-of-mind, retailers' concerns about understanding customer preferences — along with their own ability to respond to those preferences with new ideas about pricing and promotions — have become top business challenges, according to a survey of 96 retailers published Wednesday by Retail Systems Research.