BENTONVILLE, AR - Earlier this week, Walmart made an announcement that it would be building or converting more than 150 stores over the next five years. This impressive goal marks a slight change in strategy for the retailer, as ABC News reports. In 2016, Walmart said it would be slowing new store openings and instead investing in its online efforts, technology, and store remodels as it aimed to be more competitive with other big-box chains and online fulfillment centers.

A company spokeswoman said the discounter hadn't opened a new store since November 2021, ABC News explains.

But Walmart has been making serious strides in its retail efforts this year, with a renewed focus on technology and a shift in its approach to innovation.

In a memo shared with The Associated Press, John Furner, President and Chief Executive Officer of Walmart's U.S. division, said that the first two new stores under this initiative, both Neighborhood Markets, are set to open later this spring in Atlanta and Santa Rosa Beach, Florida.

The retailer is also finalizing construction plans on 12 new store projects to start in 2024, along with converting one of its smaller locations to a Walmart Supercenter. The new and remodeled stores will reflect Walmart’s new concept, featuring improved layouts, expanded product selections, and new tech.

“These efforts represent millions of dollars in capital investment of labor, supplies, and tax revenue, which benefit their respective communities,” Furner said. “And they’ll help us reach and serve even more customers.”

As the news source explained, over the next 12 months, Walmart plans to remodel 650 stores across 47 states and Puerto Rico.

ANUK will report on the latest happenings in the retail sector so stay tuned!