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Walmart to Build or Convert 150-Plus Stores in Next Five Years; John Furner Comments

Walmart to Build or Convert 150-Plus Stores in Next Five Years; John Furner Comments

Friday, February 2nd, 2024

Whispers of a major Walmart expansion have been circling the industry as of late. It was announced that the retailer has plans to build or convert more than 150 stores over the next five years. This marks a shift in strategy from when in 2016, Walmart planned to slow new store openings and invest in its online efforts, technology, and store remodels.

A company spokeswoman said the discounter hadn't opened a new store since November 2021, ABC News explains.

But Walmart has been making serious strides in its retail efforts this year, with a renewed focus on technology and a shift in its approach to innovation.

Walmart has announced that it will be building or converting more than 150 stores over the next five years

In a memo shared with The Associated Press, John Furner, President and Chief Executive Officer of Walmart's U.S. division, said that the first two new stores under this initiative, both Neighborhood Markets, are set to open later this spring in Atlanta and Santa Rosa Beach, Florida.

The retailer is also finalizing construction plans on 12 new store projects to start in 2024, along with converting one of its smaller locations to a Walmart Supercenter. The new and remodeled stores will reflect Walmart’s new concept, featuring improved layouts, expanded product selections, and new tech.

John Furner, Chief Executive Officer, Walmart U.S.“These efforts represent millions of dollars in capital investment of labor, supplies, and tax revenue, which benefit their respective communities,” Furner said. “And they’ll help us reach and serve even more customers.”

As the news source explained, over the next 12 months, Walmart plans to remodel 650 stores across 47 states and Puerto Rico.

Stick with Deli Market News as we learn more about this potential expansion.