Wal-Mart (WMT) has a new $10 billion idea and it’s called Marketside.
According to a job post spotted by the FT, WMT says its new Marketside stores, planned to be a friendlier, higher-end neighbourhood grocery store, could expand to a chain of more than 1,000 locations with more than $10 billion in yearly revenue. The job post was then, of course, removed.
Making sure to temper expectations, a Wal-Mart spokeswoman claimed that Marketside was just a small pilot project that will start with 4 stores in the Phoenix area and had no firm plans for growth.
WMT clearly doesn’t want to raise expectations too high, especially after its recent not so recession-resistant July same-store sales.
Considering WMT’s growth is very limited in the US because, well, they’re running out of places to put Wal-Mart’s, Marketside is an intriguing proposition.
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