Wal-Mart Stores Inc. is considering acquisitions in its home market as it seeks to open smaller stores and limit its reliance on giant supercenters for growth, the Financial Times reported in its online edition.
The move is seen as a response to the imminent opening in the United States of Tesco's Fresh & Easy neighborhood grocery markets, the report said.
The world's largest retailer is seeking an executive to assess the strategic implications of any possible M&A on our overall portfolio, according to a Wal-Mart job posting cited by the FT.
The position is part of a new team that will develop a comprehensive multi-format growth strategy, the report said.
Mike Griswold, a retail analyst at AMR Research, said the news reinforces my view that Wal-Mart is taking Tesco very seriously, according to the report.
Wal-Mart did not immediately respond to a request for comment.