ALEXANDRIA, VA – Walmart announced last week that it will open up to 300 of its smaller format stores this year, double its initial forecasts, Motley Fool reports.

Walmart’s smaller store concept, Walmart Express, offers direct competition to dollar stores with similar offerings and customer demographics, according to the news source.

The stores “deliver really, really well against three competitive sets,” said William Simon, CEO of Walmart U.S., adding, "against a dollar store, they have fresh food, pharmacy and gas,” not to mention a "pricing advantage" over companies like Family Dollar, Dollar General and Dollar Tree.

Walmart plans to use its Express format to plug the retailing gaps between its Supercenters and Neighborhood Markets — the precise area where dollar stores have thrived.

“Suffice it to say, if you're a dollar store operator — or, for that matter, a shareholder in Family Dollar, Dollar General, or Dollar Tree — this doesn't look promising,” Motley Fool concluded.