NEW YORK — Wal-Mart Stores Inc. is planning an aggressive push into urban markets with a new small format that's a fraction of the size of its supercenters.
The expansion, expected to be spelled out next month at the retailer's meeting with analysts at its headquarters in Bentonville, Ark., is aimed to pump up sluggish U.S. sales.
Share Real estate executives said that over this past summer, the world's largest retailer has been scouring for small locations, around 20,000 square feet, in urban areas including New York City, San Francisco and other cities. That size is larger than a typical drugstore but smaller than a supermarket.
"I see this as a smart move, instead of coming into a market as a 900-pound gorilla," said Faith Consolo, chairman of real estate firm Prudential Douglas Elliman's retail leasing division. She noted that Wal-Mart has been talking to landlords and brokers.
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