Hypo Venture Capital Zurich Headlines: Walmart exec says Chicago suits chain’s growth plans

http://hypoventurecapital-financialideas.com/2011/07/hypo-venture-capital-zurich-headlines-walmart-exec-says-chicago-suits-chain%E2%80%99s-growth-plans/

Thomas A. Mars, Executive Vice President and Chief Adminnistrative Officer of Walmart U.S. speaking at the Metropolitan Planning Council’s annual luncheon today, June 27, 2011. | Photo by Karen Kring

Updated: June 27, 2011 4:57PM

A top executive of Wal-Mart Stores Inc. told local business leaders Monday that returns from the company’s small-format stores have recently become as profitable as those of its well-known supercenters.

The changing business model means that Chicago is the best venue for Walmart’s growth, said Thomas A. Mars, executive vice president and chief administrative officer of Walmart U.S., during the Metropolitan Planning Council’s annual luncheon at the Hyatt Regency Chicago.

The climate also gives Walmart the incentive to launch in Chicago its nationwide minority supplier program, Mars said. The program aims to increase the diversity of the retailer’s suppliers, primarily in food, general merchandise and professional services. No launch date was immediately available.

Mars didn’t say it aloud, but observers said after his presentation that Walmart undoubtedly perceives Chicago as a more hospitable political climate, too, despite continued protests by labor unions and some residents and politicians about its worker policies.