Walmart goes small for cities

Walmart may not be easily confused with a local market or convenience store, but that's exactly what it's hoping to become, at least in urban locations and areas with limited space to build a super center.

Every few months it seems, there's a story about Walmart trying to expand into urban areas, but this time there seems to be more fuel behind the rumors. National Public Radio reports that Walmart's new President and CEO, Bill Simon, told investors last week at a Goldman Sachs retail conference that "we will have a healthy mix of super centers and small formats, including our grocery format, Neighborhood Market and smaller formats."