Walmart Invests $9 Billion to Modernize Stores





Walmart is investing $9 billion to remodel 1,400 stores nationwide as part of its two-year plan to modernize stores.

Last month, Walmart had a grand re-opening for 117 stores in 30 states. The company spent more than $500 million to upgrade stores with private screening rooms at the pharmacy and digital touchpoints throughout the stores with QR codes that offer more information on products and suggest similar items. 

Bulky items such as furniture and bedroom sets are now set up in displays so customers can see the finished effect. The new displays include complete bedroom setups and mannequins to help customers see the full impact of a potential purchase.

Image credit: Walmart

The move to modernize its stores comes as Walmart closes underperforming stores this year, turning some into fulfillment centers to aid Walmart+ deliveries. Walmart aims to drive sales by distancing itself from the traditional big-box store and shifting to a department store aesthetic, which has worked well for Target.

Walmart Chief Executive Officer John Furner said he was “pleased” with how the stores are performing since the remodel.

“The customer reaction of the new assortment particularly… apparel, pets, beauty, home, a number of categories is really great,” Furner said during a call with investors, according to Yahoo! Finance

Walmart saw a dip in revenue during the third quarter, particularly with items like home decor, toys, and clothing, while the company’s e-commerce sales increased 24% since 2022. The company did not release details, but Furner said the company is “excited about the results that we’re seeing” from the remodeled stores.

“We have the advantage of not only being close to customers with the brick and mortar asset, but also being able to do pickup and delivery… making sure that they are future proofed for not only growth inside of the store, but also curbside,” Walmart executive Hunter Hart told Yahoo! Finance

Walmart plans to continue remodeling stores through next year.

Image credit: Walmart

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