Wal-Mart Creates New Role to Oversee Alternative Format Stores
Wal-Mart Stores Inc. (WMT), the world’s largest retailer, has created a new executive position to oversee new store formats in international markets.
Lev Khasis, who joined the company in 2011 after working in Russian retail, was named president and chief executive officer of new formats for Wal-Mart International, Kevin Gardner, a Wal- Mart spokesman, said in an e-mail.
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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