Wal-Mart Stores Inc. says it is seeing early success in its small stores called Walmart Express.
Bill Simon, president of the company's U.S. Walmart stores division, told investors Wednesday that its Walmart Express stores, which are less than one-tenth of the size of Walmart supercenters, are profitable less than a year after the company started opening them.
Wal-Mart opened the first Walmart Express store in rural Gentry, Ark., last June. It now has 10; they're in other rural areas in Arkansas and North Carolina and in the densely populated Chicago area.
"So far, so good," Simon said during a Morgan Stanley Retail Conference that was broadcast over the Web. "The next phase is, how big this could be."
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