Walmart plans to add 150 stores in the U.S. as part of a five-year expansion plan that will require millions of dollars in investment.
Most of the stores will be new builds, with the first two set to open in the spring in Florida and Georgia, while the rest will be existing locations converted to new formats. The company also plans to remodel 650 locations.
“This is a huge vote of confidence in the American consumer,” said Craig Johnson, founder of retail consultancy Customer Growth Partners.
It also shows the company’s commitment to in-store and pickup despite the growing popularity of e-commerce, said Piper Sandler analyst Edward Yruma. “As we settle into the new normal, what we’ve come to is that the consumer likes great, physical retail locations.”
