Wal-Mart Stores is reportedly mulling a bid to acquire Tommy Hilfiger Corp.

According to a report published on Women's Wear Daily's website on Monday, unnamed financial and industry sources say Wal-Mart could start due diligence on Hilfiger by the end of the week.

Last Thursday Wal-Mart CFO Tom Schoewe told investors that the retailer is taking a more contemporary direction in its clothing, including presenting its George apparel brand in a more upscale setting.