Wal-Mart (WMT) Starting Development on Express Stores in Arkansas

Citing building permits they attained, Bloomberg news reported Wal-Mart (NYSE:WMT) will start building its first Express stores nex week, beginning in Gentry, Arkansas.

Gentry is a small town of just over 3,000, located about 20 miles southwest of company’s Bentonville headquarters. The stores will be under a tenth the size of the average supercenter operated by Wal-Mart.

The retail giant has plans to open up to 40 of the smaller stores in 2011; in urban and rural areas. A couple more will be launched near the first one, apparently under the close, watchful eye of management.

In February Wal-Mart executives said they will probably open the first store in May.

Wal-Mart closed Wednesday at $52.67, gaining $0.59, or 1.14 percent.