Customers shop at a Walmart store on May 18, 2023 in Chicago, Illinois.
Scott Olson | Getty Images
U.S. retail chain Walmart on Monday said it is investing more than $9 billion over a two-year period to upgrade and modernize some U.S. stores with improved layouts, expanded product selections and new tech additions.
On Friday, 117 stores in 30 states will be re-launched showcasing the enhancements, representing investments of more than $500 million, Walmart said in a statement. In total, it plans to modernize more than 1,400 of its 4,717 Walmart stores across the country. The remodels do not apply to its warehouse club chain, Sam’s Club, a spokesperson said.
“These construction investments allow us to create more local jobs and make it easier for our associates to get customers what they want, when they want it,” John Furner, chief executive officer of Walmart’s U.S. business said.
Walmart’s low-cost and low-margin groceries have been a big draw for Americans dealing with steep inflation in food prices, including eggs, protein and chocolate, over the past two years. In 2022, the company’s sales surpassed $600 billion, a record.
Now the Bentonville, Arkansas-based retailer wants to change its image from merely a steep discounter to a destination where customers can also purchase fashionable home goods and clothing.
As part of those efforts, the company tested some remodeled concept stores called “Stores of the Future” at a few Walmart Supercenters, including Teterboro in New Jersey, earlier this year. Executives have previously said the concept was a success, with same-store sales rising by a few percentage points and in Teterboro’s case, as much as 20%.
Monday’s investments mark the national rollout of that concept, a Walmart spokesperson said.
The enhanced stores will have refreshed interiors and exteriors, with new paint, updated flooring, modernized restrooms, LED-lighting and new signage for brighter and easier navigation through the stores, the company said.
Customers also will see increased check-out options, including staffed lanes and self-checkout areas, and more grab-and-go food and beverage options in its grocery areas.
Stores will also host bigger pharmacies with private screening rooms for pharmacist consultations and services, and digital screens and QR codes that offer information on Walmart’s services offered online, the company said in a statement.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
