Wal-Mart's newest store is a garage-size prototype on the University of Arkansas campus that the company says is the first of at least 40 smaller locations expected to launch this year. They'll sell a pared-down selection of low-priced merchandise, including fresh and packaged foods and over-the-counter medications. The new format, aimed at giving Wal-Mart a presence in small shopping districts, has some merchants gearing up to face the competition.

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