Walmart announced Wednesday that it will open 150 new stores over the next five years. The move, which company President and CEO John Furner defined as an "investment in America," will include stores throughout the nation and will be part of a plan that will allow the retail giant to "reach and serve even more customers":
I’m proud to announce our support for even more jobs by expanding and modernizing the facilities most core to our business: our stores. In the next five years, Walmart is planning to build or convert more than 150 stores, while simultaneously continuing our program to remodel existing stores. 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.
The company reported through a press release that the first two establishments to open will be located in Santa Rosa Beach, Fla., and Atlanta. These stores will open throughout this spring, though the exact dates have yet to be determined:
I’m excited to say the first two new stores under this initiative, both Neighborhood Markets, are set to open later this Spring in Santa Rosa Beach, Florida and Atlanta, Georgia. We’re also finalizing construction plans on 12 new projects we intend to start this year, along with converting one of our smaller locations to a Walmart Supercenter.
Walmart will also renovate its stores
Furner also reported that the chain will renovate 650 stores in the next 12 months in 47 states and Puerto Rico, creating "tens of thousands of jobs" in the process and collaborating in the development of the U.S. economy:
During the next 12 months, we plan to remodel 650 stores across 47 states and Puerto Rico – creating tens of thousands of jobs supporting these projects. That’s in addition to the hundreds of jobs we’ll bring to a community each time we open a new store. And those jobs come with amazing perks, like tuition-free college starting on day one, or flexible scheduling and competitive paid time off.
The announcement comes months after Walmart reported that it was laying off nearly 2,000 workers. It also takes place shortly after the company, together with Target, warned that the increase in retail theft was putting their businesses at risk, going so far as to close stores that Walmart had located in and around Portland, Ore.
