Walmart investing $9 billion to remodel 1,400 stores

Bentonville-based retailer Walmart Inc. said Monday (Oct. 30) it is investing $9 billion to remodel and upgrade 1,400 U.S. stores.

In a company announcement, Walmart officials said the upgrades would include improved layouts, expanded product selections and new tech additions.

On Friday (Nov. 3), the company will re-open 117 stores in 30 states that showcase the enhancements, representing investments of more than $500 million. The company said it is the largest single-day grand re-opening in its history.

In total, Walmart will upgrade more than 1,400 stores. The company has more than 4,700 stores. Walmart plans to continue modernizing its U.S. stores in 2024.

“With nearly 90 percent of the U.S. population living within 10 miles of a Walmart, we understand how important our local stores are to customers and communities, and 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,” said John Furner, CEO of Walmart U.S.

According to the company, the upgraded stores will feature revitalized interiors and exteriors. This includes fresh paint, updated flooring, modernized restrooms, energy-efficient LED lighting, and new signage for enhanced visibility and easier store navigation. Additionally, customers can look forward to expanded checkout options, including both staffed lanes and self-checkout areas.

The grocery sections will offer a wider selection of grab-and-go food and beverage choices. Furthermore, the stores will house larger pharmacies equipped with private screening rooms for personalized pharmacist consultations. They will also incorporate digital screens and QR codes to provide information about Walmart’s online services, the company said in a statement.

Shares of Walmart (NYSE: WMT) closed Tuesday at $163.02. Year to date, Walmart’s stock value is up about 16%. For the past 52 weeks, the share price has traded between $165.85 and $136.09.