Walmart is opening 150 new stores in the U.S.

Walmart is opening 150 new stores.

They also plan to remodel 650 existing stores.

It will create thousands of jobs.

In a bold move aimed at strengthening its position as a retail giant, Walmart has announced good news for its customers in the U.S.

Walmart announced Wednesday it is opening 150 additional stores over the next five years and remodel existing locations in 47 states over the next year.

This announcement from Walmart CEO John Furner highlights the company’s determination to make «strategic investments» to improve its national presence.

The first step of this expansion will be the opening of two new stores in the spring, located in Santa Rosa Beach, Florida and Atlanta, Georgia.

Walmart is opening new stores in the U.S.

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These stores not only represent physical growth for Walmart, but also symbolize a significant investment in human capital, supplies and tax revenue.

Furner described these plans as «millions of dollars in capital investment,» underscoring the magnitude of the initiative.

In addition to the new openings, Walmart plans to extensively remodel 650 stores in 47 states and Puerto Rico over the next year.

The CEO said this effort will not only improve the shopping experience for customers, but will also create “tens of thousands of jobs.”

A big move from the retail giant

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Walmart’s commitment to the revitalization of its current stores highlights its commitment to long-term investment in the communities in which it operates.

The good news does not stop there, as the company has concrete plans for the construction of 12 other projects in 2024.

Chief among them is the transformation of a smaller location into a supercenter.

This suggests the retailer is adapting to changing consumer demands and focusing on diversifying its services.

Walmart’s CEO on the new stores

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Walmart’s expansion strategy not only focuses on opening new stores, but also addresses modernizing and adapting of its existing infrastructure.

The emphasis on remodeling not only seeks to update current stores, but also generate meaningful job opportunities in diverse communities.

“We’ve made, and are making, strategic investments to build a stronger, more resilient, and more profitable Walmart,” Walmart’s director of global communications Josh Havens said in an email.

“Adding new stores, and modernizing our existing ones, will better enable us to meet our customers where, when and how they prefer to shop with us,” he added.

Good news for job seekers?

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The number of stores that Walmart has in the United States as of October was 4,616 and they employ more than 1.6 million people, according to El Diario NY.

In 2023, the retailer recorded $160.8 billion in revenue during the third quarter, 5% more than in 2022 and an all-time high for shares in November.

The first weeks of 2024 show no signs of slowing down for the company. Last week, it announced it would raise the average hourly wage to $18, up from $17.50.

It was even announced that the top store manager at each of its locations in the United States will receive annual stock grants valued at up to $20,000.

What do perks do Walmart store managers get?

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The managers of the country’s supercenters will receive the full amount and those in smaller locations will receive between $10,000 and $15,000.

Following that, the store reportedly announced a three-for-one stock split on Tuesday after shares hit $165.69.

Walmart’s expansion comes amid the rise of online retail giants like Amazon and Shein, and from Walmart’s own efforts to increase online sales and its third-party marketplace.

This underscores Walmart’s belief in the continued relevance and importance of in-store shopping experiences.