Walmart plans to build or convert more than 150 stores in the next five years, while continuing to remodel existing stores.
The plan announced Wednesday marks a big change for the discounter. In 2016, Walmart announced it was slowing new store openings and instead investing in its online efforts, technology and store remodels as it aimed to be more competitive with online behemoth Amazon.
A company spokeswoman said the discounter hadn't opened a new store since 2021.
The news comes as the Bentonville, Arkansas-based chain, like many other retailers, is relying more on its physical stores to fulfill online orders and use them as online pickup locations.
In a memo shared with The Associated Press, John Furner, president and CEO of Walmart's U.S. division, said that the first two new stores under this initiative, both Neighborhood Markets, are set to open this spring in Atlanta and Santa Rosa Beach, Florida. It's also finalizing construction plans on 12 new store projects to start this year, along with converting one of its smaller locations to a Walmart Supercenter.
Over the next 12 months, the nation's largest retailer plans to remodel 650 stores across 47 states and Puerto Rico.
Its new and remodeled stores will reflect Walmart’s new concept, featuring improved layouts, expanded product selections and innovative technology to help workers better support customers and make shopping more convenient, the company said.
FILE - The Walmart logo is displayed on a store in Springfield, Ill., May 16, 2011. Walmart plans to build or convert more than 150 U.S. stores in the next five years, while continuing to remodel existing stores. The plan, announced Wednesday, Jan. 31, 2024 marks a big change for the discounter. (AP Photo/Seth Perlman, File)
