One Business Two Similar Domains?

[Carmen D]

I currently have one online store. But I would like to have another online store that will offer the same products but I will add different content to the product descriptions. Lets say, for example, that my that my current domain is "myonlinestore.com", will it be ok if the other url is "my-online-store.com"? Will both count as two different domains or will they be seen as one by google? I would really like the url to be similar because it will be displaying my company's name.
Similar to what walmart did: walmart.com wal-mart.com

[Jake]

If relying on search traffic, this strategy may well dilute your effort, perhaps giving you 2 sites on page 2 instead of one at the bottom of page 1. Certainly there are strategic reasons to perhaps market to 2 different demographic groups with different price ranges.

When people create their own private network of sites for the purposes of creating backlinks they have to take great pains conceal the common ownership of the sites by putting them on different host IP addresses, perhaps concealed domain name registration. This may not matter in your case too much but the tendency to use some duplicate content on the 2 sites may hurt the 'originality' ranking actor.