Walmart plans to build or convert more than 150 large-format stores over the next five years, the company said this week. The majority will be new stores, said company spokesman Josh Havens, but some of the locations will be expanded from a smaller location into a Supercenter, which carries a full range of groceries and merchandise. Walmart did not say where the new and expanded stores will be located.
The company already has more than 4,600 stores across the country, and nearly 600 Sam’s Club warehouses. Sam’s Club also is in expansion mode, with plans to open more than 30 new stores in the U.S., reports CNBC.
The big-box retailer is the largest private employer in the U.S. with about 1.6 million employees. About 90% of the U.S. population already lives within 10 miles of a Walmart store.
With the expansion, Walmart is signaling that it sees its brick-and-mortar locations as a key part of the future, despite heightened competition with online players like Amazon and Shein, and its own push for growth of online sales and its third-party marketplace, reports CNBC. The company on Tuesday announced a 3-for-1 stock split.
Walmart U.S. CEO John Furner said in a website post this week that the retailer plans to start 12 new store projects this year and will convert one of its smaller locations into a Walmart Supercenter. The move to open or expand locations is in addition to the company’s plans to renovate other stores, he added. New stores will also have more sustainability features, such as energy-efficient lighting, he said.