Wal-Mart Stores Inc. (WMT) has announced the opening of a new store in Chantilly, Washington. The store will employ 300 people.
The step is a part of Wal-Mart’s initiative to make better and cleaner stores, merchandising and provide a different shopping experience to its customers.
The new 124,935 square feet Wal-Mart store features enhanced service and improved layout that is designed to make the shopping experience more convenient for customers. Wal-Mart also aligned the departments which are favorites of customers. The shop also incorporates energy-efficiency features to reduce energy and water consumption and minimize waste.
Other than Chantilly, Wal-Mart has opened stores in Covington and Crowley in March 2012 with the same concept, providing job opportunities and savings.
Recently, the retail giant Wal-Mart unveiled an in-store service to allow consumers to convert their DVDs and Blu-ray discs into digital movies in order to boost up the value of movie ownership for its customers. The service will start from April 16, and Wal-Mart will offer this service at 3,500 of its stores at only $2 for the conversion of standard DVDs and Blu-ray discs and $5 for any up gradation of standard DVDs to High-Definition.
Wal-Mart, which competes with Target Corp (TGT), has 10,130 retail units under 69 different banners in 27 countries. With fiscal year 2012 sales of approximately $444 billion, Wal-Mart employs more than 2 million associates worldwide. Currently, we hold a Zacks #3 Rank implying a short-term Hold rating. Over the long-term, we provide a Neutral recommendation on the stock.
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