Walmart to Upgrade 1,400 Stores With $9B Investment

  • 📰 NEWSMAX
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 71%

Business News News

U.S. retail chain Walmart Monday said it is investing more than $9 billion over a two-year period to upgrade and modernize some U.S. stores with improved layouts, expanded product selections and new tech additions.

On Friday, 117 stores in 30 states will be re-launched showcasing the enhancements, representing investments of more than $500 million, Walmart said in a statement. In total, it plans to modernize more than 1,400 of its 4,717 Walmart stores across the country. The remodels do not apply to its warehouse club chain, Sam's Club, a spokesperson said.

Walmart's low-cost and low-margin groceries have been a big draw for Americans dealing with steep inflation in food prices, including eggs, protein and chocolate, over the past two years. In 2022, the company's sales surpassed $600 billion, a record. As part of those efforts, the company tested some remodeled concept stores called "Stores of the Future" at a few Walmart Supercenters, including Teterboro in New Jersey, earlier this year. Executives have previously said the concept was a success, with same-store sales rising by a few percentage points and in Teterboro's case, as much as 20%.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Walmart to upgrade 1,400 stores with $9 billion investmentWalmart to upgrade 1,400 stores with $9 billion investment
Source: Investingcom - 🏆 450. / 53 Read more »