Walmart's Brick-and-Mortar Expansion Plans: 150+ New Stores

Estimated read time: 3 minutes and 59 seconds

WHERE’S WAL-DO

Walmart's Brick-and-Mortar Expansion Plans: 150+ New Stores (Read More)

Walmart Ramps Up Store Expansion as it Shifts Focus Back to Brick-and-Mortar

Walmart is set to build over 150 larger-format stores in the next five years, while also remodeling existing locations. The retail giant plans to remodel 650 stores across 47 states and Puerto Rico in the coming year. Walmart CEO John Furner said the company is also finalizing construction plans for 12 new projects and converting a smaller location into a Walmart Supercenter. The expansion marks a shift back to physical stores for Walmart, after previously focusing on online sales.

Embracing the "Store of the Future" Concept:

• Walmart's new and remodeled stores will feature a modern look, improved layouts, expanded product selections, and technology to enhance customer service and convenience.

• Customers have responded positively to this concept in locations where it has been introduced.

Sustainability Focus:

• Walmart's stores will incorporate energy-efficient equipment, lighting, and lower impact refrigerants to reduce environmental impact.

• The company is also working on developing a coast-to-coast network of affordable electric vehicle fast-charging stations for Walmart shoppers and associates.

Sam's Club, a division of Walmart, also Investing in Brick-and-Mortar

In addition to Walmart's expansion plans, Sam's Club has announced the opening of over 30 new locations across the U.S. in the coming years. The decision to expand is driven by the growth in comparable sales and increased membership. Sam's Club continues to prioritize products and services that drive shopping trips and demonstrate the value of membership.

Walmart's Store Footprint:

• Walmart currently operates over 4,600 stores across the country.

• Sam's Club operates nearly 600 warehouses.

TRIPLE NET TENDIES

🧠 Thought Leader: Taylor Avakian shares a lesson from a lost listing

👂 Ear Hustle: Crexi interviews David Chasin, CEO of Pegasus Investments

💎 Web Gem: Jason Miller shares insight on ALDI and their 2,300+ stores

NET LEASE NUGGIES

• Love's Travel Stops expands to celebrate 60th anniversary. The travel stop and convenience-store retailer plans to add 20 to 25 new locations and update 35 to 40 aging stores and in 2024. It also aims to rebuild four stores entirely. Love's will add 20 restaurants, 10 new full-service Speedco locations, and double its truck wash network by adding seven new locations in 2024. Additionally, Love's will offer RV hookups at 44 more locations, ending the year with 1,500 hookups at 98 locations. (Read More)

• Slim Chickens sees rapid growth in fast-casual chicken industry. The brand experienced sales growth of over 30% and unit growth at 27.4%, with average unit volumes surpassing $3.8 million. Slim Chickens plans to open 70 new stores in 2024, bringing their total to over 250 locations and making them one of the top 50 chains in the country. The brand attributes its recent success to effective marketing, strong unit economics, and a diverse menu featuring 17 signature sauces. Slim Chickens aims to continue aggressive expansion in the coming years. (Read More)

BEAST TWEETS x POSTS

🐦 Brian Beers: I've seen there're 2 types of people that buy franchises…

🦅 Sean O’Dowd: Our goal is to buy homes in elite school districts and rent them to tenants who want to be there for the school…

🦢 Blackrock: Blackrock’s BTC holdings passes $2.4 Billion…

🦆 Nick Huber: A sure-fire way to get really far in life (and make a lot of money)…

VISUAL OF THE DAY