DALLAS—Walmart expects to build no more than 25 new US stores this fiscal year as its $11 billion capital budget tilts even more heavily toward renovations and e-commerce. The retailer will introduce several in-store and online innovations.
The renovations will include aesthetic changes, along with an updated pharmacy area with a new private consultation room–another sign of the retailer's push into the healthcare sector. Walmart is also adding online grocery pickup to 1,000 stores this year to keep it competitive in the growing grocery-delivery business with rivals such as Amazon.
In a series of announcements detailing plans for spending, Walmart expressed its intention to expand its reach in Florida and Texas, where the company is spending $477 million to open 14 stores and remodel 82.
In Texas, Walmart will open four new stores. It plans to spend $277 million overhauling 45 stores, 18 of which are located in or near the Dallas-Fort Worth region–a highly competitive grocery market with a strong presence by Kroger, Albertsons and Sprouts. In the Austin market where Whole Foods and HEB have a strong presence, Walmart said it will remodel two stores.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
