Walmart is constructing 150 new shops within the subsequent 5 years

In its annual report last year, Walmart advised traders that it has greater than 5,300 shops between its namesake areas and Sam’s Golf equipment, altogether sprawling greater than 782 million sq. toes. And in an announcement Wedensday (Jan. 31), the corporate mentioned that it could constructing greater than 150 new shops within the subsequent 5 years. If the common measurement holds, that’s 380 soccer fields’ value of procuring area.

It’s a pleasant vote of confidence in the way forward for brick-and-mortar retail, on condition that only a few years in the past the retailer mentioned it was closing 269 stores, together with all of its smallest Walmart Categorical areas.

The corporate advised Quartz that the final time it opened new shops was in November 2021, when it welcomed consumers to new areas in Ceres, California (close to Modesto); Yaphank, New York (on Lengthy Island); and Miami, Florida. Walmart additionally mentioned that it could be renovating greater than 650 of its present shops.

“What a win it’s to put money into America,” CEO John Furner mentioned within the press launch accompanying the announcement.

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