Feb 1, 2024 - News

Walmart plans 150 U.S. store expansion

An artists' rendering of a new Walmart Supercenter with cars parked in the foreground and the building in background.

A conceptual representation of a new Walmart Supercenter. Rendering: Courtesy of Walmart

Walmart said in a blog post Tuesday it will add or convert 150 U.S. stores by 2029.

Driving the news: The retailer laid the groundwork for the reveal in the past two weeks. First Walmart announced a hike in average pay for its store managers, then a stock grant program for the same group and finally a 3-to-1 stock split to make it easier for employees to buy shares.

  • Walmart also said it's raising the average hourly wage for front-line workers to $18 this month, up from $17.50.

The big picture: The company employs more than 1.6 million people, including nearly 56,000 in Arkansas.

🚧 Shopper beware: In addition to the 150 new stores, the company will continue remodeling 650 of its current stores in 47 states over the next year.

  • There are more than 4,600 Walmarts in the U.S.

The bottom line: New and remodeled stores will be an updated concept Walmart calls its store of the future.

  • The big-box layouts will have new paint, refreshed exteriors, new checkout designs and will be more welcoming in general, the company says.
  • Walmart spent more than $9 billion to upgrade 1,400 stores from 2021 to 2023.
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