Monday, June 24, 2013

Walmart Neighborhood Market may accelerate its rollout

Earlier this month Walmart CEO Bill Simon said the company could accelerate the rollout of its Neighborhood Market grocery stores. According to Simon, Walmart had plans to open 80-100 Neighborhood Market stores this year and next, but that number could increase as returns on newly built stores approach those of its supercenter format.

"Neighborhood Market is a really cool format," said Simon. "It's a grocery store combined with a drug store put in a place where a dollar store would be."

And just to scare grocery stores, drug stores and dollar stores a little more, Simon kept talking.

"Imagine a drug store that has Walmart's prices that has fresh food, fresh produce and fresh meat. Imagine a convenience store that has pharmacy and fresh food. Imagine a grocery store that also has a pharmacy and, in many cases, gas, and the prices Walmart has. It just really works well against any competitive set it operates against."

Simon and the company he runs have a lot in common. They both lack eloquence, but make alot of money!

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