In a vote of confidence for bricks-and-mortar retail, Walmart has announced that it will add 150 large-format stores over the next five years.
John Furner, president and CEO of Walmart U.S., also said in a statement on Wednesday that the retail giant will remodel 650 of its existing stores during the next 12 months.
Most of the 150 stores in the expansion will be newly built, the balance will involve conversions of smaller stores into Walmart Supercenters. The first two new stores will open later this spring in Santa Rosa Beach, FL and Atlanta.
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