Retail giant Walmart is planning to build or convert more than 150 stores over the next five years in a bid to beef up its customer base and fuel growth.
Most of that number will be made up of new builds, though the retailer will also convert some existing stores to Supercenters, which are Walmart's largest offerings featuring groceries, apparel, pharmacies, auto services and more, Bloomberg reports.
New stores will be either Supercenters or smaller Neighborhood Markets.
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In addition to its new and converted stores, the company also plans to remodel 650 stores across 47 states and Puerto Rico in the next 12 months, according to a post by Walmart U.S. President and CEO John Furner on the company’s website.
The company projects that the construction and remodeling efforts will create tens of thousands of jobs, Furner wrote.
“We’re proud that improving our stores also has a tangible impact in the communities we serve,” he wrote. “What a win it is to invest in America, grow our business and move toward a more sustainable future — all at the same time.”
Both the new and remodeled stores will adhere to Walmart's “Store of the Future” concept, centered on upgraded layouts, more extensive product selection and cutting-edge technology to help employees better support customers and make shopping more convenient, Furner wrote.
Walmart will design the new facilities with a focus on sustainability, including energy-efficient equipment and lighting and lower-impact refrigerants, according to Furner. The retailer also reaffirmed its plans to develop a nationwide network of electric vehicle fast-charging stations at its stores.
The first two new stores under this initiative are set to open this spring in Santa Rosa Beach, Florida, and Atlanta. Walmart is also finalizing construction plans on 12 additional new projects it intends to start this year.
The store launches will mark the first time Walmart has opened new retail locations since November 2021, Fox Business reports.
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