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New details shared on Walmart’s small formats
Walmart’s tepid sales performance in the fourth quarter is water under the bridge, so when Walmart U.S. CEO Bill Simon spoke this week at an investor conference he quickly focused on the growth potential of smaller stores, which are being expanded at a more rapid pace.
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PetSmart expands store growth plans
PetSmart plans to open 70 net new stores this year, including approximately 50 of its standard prototypes, 20 micro stores and three PetsHotels. That’s 10 more than last year, during which the largest specialty pet retailer of services and supplies also closed five stores and opened three new PetsHotels.
The company will spend remaining capital expenditures on store remodel-type projects, supply chain, technology, maintenance and other infrastructure improvements.