Retail News Breaks
Walmart upbeat about the holidays
September 6th, 2012
NEW YORK – Despite intensifying competition, Walmart is viewing the upcoming holiday season optimistically, said Walmart U.S. president Bill Simon during a presentation at the Goldman Sachs Global Retailing Conference here.
"We’re optimistic about the fourth quarter, we do expect it to be challenging," he said. "The retail environment is getting very aggressive."
Simon noted that Walmart is seeing very strong results from its smaller format stores, which include Neighborhood Markets measuring around 60,000 square feet, and Walmart Express, which is about 15,000 square feet.
"[These] are among the most versatile retail formats that we see in the marketplace," Simon remarked. "They compete very, very well against dollar stores, but they also compete very well against drug chains and grocery chains and, increasingly, some convenience chains."
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