'Mini' Wal-Mart, coming to a city near you

Retail giant Wal-Mart is set to open more "mini" stores stocked with cut-priced groceries and core items to lure customers away from no-frills grocery chains.

The strategy is a marked change for the U.S.'s largest retailer, who for many years concentrated on opening giant Supercenters in suburban and rural areas. Wal-Mart isn't releasing the details, but stated in its annual report released last week its U.S. growth will involve new formats.

"Growth in the United States will come from additional penetration into more metropolitan markets, as well as from new formats and stronger integration with the online business," the report states.