Walmart plans on adding more than 150 larger format stores
Walmart is moving back into brick-and-mortar expansion.
The retail giant said it plans to build or convert more than 150 larger-format stores during the next five years while also continuing its program to remodel existing locations. During the next 12 months, Walmart expects to remodel 650 stores across 47 states and Puerto Rico.
In a blog on the company’s website, Walmart U.S. president and CEO John Furner said the retailer is finalizing construction plans on 12 new projects it intends to start this year, along with converting one of its smaller locations to a Walmart Supercenter. It also has two Neighborhood Markets set to open this spring in Santa Rosa Beach, Fla., and Atlanta.
The expansion plans mark a big change for Walmart, which in 2016 said it planned to slow new store openings as it focused turned to boosting online sales, The chain hasn’t opened a new store since the fall of 2021.
In other news, Walmart announced a three-for-one stock split, with the additional shares to be payable after the market closes Feb. 23 to shareholders of record as of the previous day. The retailer said it chose to break up shares in part to allow more employees to buy into its stock purchase plan.
[Read more: Walmart raising pay for store managers, revamps bonus program]
The company’s new and remodeled stores will reflect its “store of the future” concept, which feature a more modern look, with improved layouts, expanded product selections and technology to help employees better support customers and make shopping more convenient.
“Customers love this concept in the places we’ve already rolled it out, and we’re excited to transition more and more of our fleet,” Furner said.
In addition, the stores will be designed with sustainability in mind, including more energy-efficient equipment and lighting, lower impact refrigerants and more. Furner said Walmart it also is working on developing a coast-to-coast network of affordable electric vehicle fast-charging stations in hopes to make EV ownership “a more convenient and accessible choice for Walmart shoppers and associates.”
Sam’s Club
Walmart U.S. isn’t the only division of the company that is investing in brick-and-mortar. In January 2023, Sam’s Club unveiled plans to open more than 30 new locations across the U.S. during the next several years.
Sam’s Club said the decision to expand its physical footprint was motivated by historic comparable sales growth and a record rise in membership during the past two years as it “continued to prioritize products and services that drive shopping trips and demonstrate the value of membership.”
Walmart operates more than 4,600 stores across the country and nearly 600 Sam’s Club warehouses.
This story originally appeared on Chain Store Age.
