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Walmart to upgrade 1,400 stores with $9 billion funding

  • Funding in stores will happen over two-year duration
  • Investments marks national rollout of “store of future” concept
  • New signage, brighter lighting fixtures, digital monitors segment of upgrades

NEW YORK, Oct 30 (Reuters) – U.S. retail chain Walmart (WMT.N) on Monday said it is investing greater than $9 billion over a two-year duration to upgrade and modernize some U.S. stores with improved layouts, expanded product choices and unique tech additions.

On Friday, 117 stores in 30 states will be re-launched showcasing the enhancements, representing investments of greater than $500 million, Walmart said in an announcement. In complete, it plans to modernize greater than 1,400 of its 4,717 Walmart stores across the nation. The remodels end no longer prepare to its warehouse membership chain, Sam’s Membership, a spokesperson said.

“These snort investments allow us to originate more local jobs and develop it more uncomplicated for our pals to salvage customers what they need, after they need it,” John Furner, chief govt officer of Walmart’s U.S. enterprise said.

Walmart’s low-designate and low-margin groceries hold been a immense method for People coping with steep inflation in food costs, at the side of eggs, protein and chocolate, over the last two years. In 2022, the firm’s sales surpassed $600 billion, a file.

Now the Bentonville, Arkansas-based completely retailer desires to change its image from merely a steep discounter to a destination where customers could well buy in style dwelling items and dresses.

[1/3]Look of Walmart’s newly revamped Supercenter, in Teterboro, New Jersey, U.S., June 7, 2023. REUTERS/Siddharth Cavale/File Inform Operate Licensing Rights

As segment of these efforts, the firm tested some revamped concept stores known as “Stores of the Future” at a few Walmart Supercenters, at the side of Teterboro in New Jersey, earlier this year. Executives hold previously said the concept became as soon as a hit, with identical-store sales rising by a few proportion aspects and in Teterboro’s case, as well-known as 20%.

Monday’s investments designate the national rollout of that concept, a Walmart spokesperson said.

The improved stores can hold refreshed interiors and exteriors, with unique paint, updated flooring, modernized restrooms, LED-lighting fixtures and unique signage for brighter and more uncomplicated navigation by the stores, the firm said.

Customers also will see increased test-out solutions, at the side of staffed lanes and self-checkout areas, and more steal-and-scoot food and beverage solutions in its grocery areas.

Stores could also host greater pharmacies with internal most screening rooms for pharmacist consultations and providers, and digital monitors and QR codes that provide info on Walmart’s providers supplied online, the firm said in an announcement.

Reporting by Siddharth Cavale in New York; Editing by Invoice Berkrot

Our Requirements: The Thomson Reuters Belief Suggestions.

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