Walmart plans 150 U.S. store expansion
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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