Walmart Supercentres to scale down, says CEO

Doug McMillon, Walmart CEO, sat down with PBS' Charlie Rose last week to discuss the trials and successes of the Walmart empire.

When it came to the company's Supercentres, McMillon said the buildings had just grown too much in size.

"We found out how big was too big," he said in the interview. "And some customers don't want to walk that far."

McMillon said some stores in the U.S. reached over 200,000 square feet. Now, the retailer has scaled back to between 150,000 and 180,000 square feet.

"We're very confident these great stores will still be important to the customers, but they will probably get smaller."

McMillon also touched on the Walmart customer, saying low-to-middle income shoppers were the usual suspects, but the store appeals to anyone who is value conscious.

Speaking on the subject of e-commerce, he noted online stores provide just as much of an opportunity for spontaneous purchases as online shopping. "They're still looking for instant gratification," he said, whether that be in-person or online.

Read the full story here.

Watch the full interview here.