Walmart (WMT) and Target (TGT) are expanding by adding more small stores in the U.S.
CoStar reports that Walmart is adding stores that are about 40,000 square feet in densely populated urban areas — these are significantly smaller than the retailer’s 180,000-square-foot stores. The company’s CEO said that Walmart is planning on opening over 200 more stores over the next 18 months.
Target is also looking to open smaller stores but the company is going for a more cautious approach than Walmart. The retailer has seven CityTarget stores in Los Angeles, Chicago, Seattle and Portland that are only between 80,000 and 100,000 square feet. Target has only opened two of these stores in 2013 but the CityTarget stores have been doing better than expected and the retailer is looking to add more of these stores in the neat future.