BENTONVILLE, ARK. — Walmart (NYSE: WMT) has announced plans to expand by more than 150 new stores over the next five years, both through new construction and converting existing buildings.
The first two stores under this initiative — both under the company’s smaller-format Walmart Neighborhood Market banner — are scheduled to open this spring in Santa Rosa, Fla., and Atlanta. The company is currently finalizing plans for 12 new projects, one of which will be the conversion of a smaller existing location into a large-format Walmart Supercenter, which serves as both a grocery store and a full department store.
Walmart simultaneously released plans to remodel 650 of its existing stores across 47 states and Puerto Rico over the next 12 months. The new and renovated locations will all feature the Bentonville-based company’s “Store of the Future” model, which includes improved layouts, expanded product selections and the integration of new technology.
The “Store of the Future” features expanded pharmacies and updated vision centers, with pharmacies moved toward the front of the store; activated corners with product displays that allow customers to interact with items and visualize them in their lives; digital touch points throughout the store to provide information on products and services; and expanded pick-up and delivery areas.
Walmart is also working to develop a coast-to-coast network of affordable electric vehicle fast-charging stations.
Walmart operates approximately 10,500 stores and clubs in 19 countries and employs 2.1 million associates around the world. The company’s stock price closed at $165.25 per share on Wednesday, Jan. 31, up from $141.71 one year ago.
—Katie Sloan