Friday, January 04, 2013

(BN) Wal-Mart Creates New Role to Oversee Alternative Format Stores

(Bloomberg) Wal-Mart Stores Inc. (WMT), the world's largest retailer, has created a new executive position to oversee new store formats in international markets.

Wal-Mart has been experimenting with different types of stores, including bodega-style locations that have proved popular with shoppers in Mexico. The company has used the Mexican Bodega Aurrera stores as the inspiration for small- format locations in the U.S. and Latin America.

"Lev has a track record of developing innovative formats, and he will now focus on developing new concepts that can be deployed across our markets to provide future growth," Gardner said.

Wal-Mart fell 0.6 percent to $68.80 at the close in New York yesterday. The shares have gained 14 percent over the past 12 months.

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