Walmart to open 150 large-format stores

Walmart to open 150 large-format stores

After a smattering of closures in the last year, Walmart plans to grow its retail footprint in a big way.

The nation’s largest retailer plans to build or convert more than 150 large-format stores in the next five years, The Wall Street Journal reported. The plans were first announced in a release from Walmart U.S. President and CEO, John Furner.

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

Two new stores, both Neighborhood Markets, are set to open this spring in Santa Rosa Beach, Florida and Atlanta. Construction on 12 other new projects will start later this year and one smaller Walmart store will be converted to a Supercenter, though none of the locations for the work have been announced.

Other existing stores will be expanded, but a spokesperson told CNBC the majority of the 150 will be new locations.

All of the new stores will feature expanded product selection and new technology, Furner wrote.

Walmart will also remodel 650 stores across 47 states in the coming year.

Walmart currently has about 4,600 stores across the country, employing some 1.6 million people across its U.S. operations.