Wal-Mart Inks Deal For First L.A. Neighborhood Market

Wal-Mart Stores Inc has signed a deal for its first Neighborhood Market grocery store in Los Angeles, the world's biggest retailer said on Friday.

The store will compete with traditional grocery chains, such as those owned by Kroger Co and Safeway Inc, intensifying pressure in what already is one of the nation's most competitive markets for food sales.

The planned 33,000-square-foot Neighborhood Market will be on the ground floor of a senior housing complex on the edge of downtown Los Angeles' Chinatown neighborhood.

An opening date has not been set, spokesman Steve Restivo said.

To read the rest of the story, please go to: Reuters