BENTONVILLE, Ark.—Walmart will plow resources into building new stores and remodeling existing stores in the United States, and in expanding its international reach in the coming year.
As detailed in a statement issued yesterday, the world’s largest retailer plans to achieve its goals domestically through its Project Impact initiative. This calls for remodeling existing supercenters and accelerating growth of new store designs. By the end of fiscal 2012, Walmart expects that this initiative will bring about the updating of 70 percent of its U.S. stores, including newly constructed stores. Regarding Sam’s Club, between five and 10 new clubs will open in fiscal 2011, on top of the projected 15 new clubs in this fiscal year.
Internationally, Walmart has set a planned increase in square footage of 25 million in fiscal 2011, after a projected increase of 23 million in this year and 19 million in the prior year. The company has set its sights in particular on growing in China and Brazil, with a variety of formats ranging from supercenters to small grocery stores.
Walmart also said it has projected capital spending to range between $13 billion and $15 billion next year, after finishing in an expected range of between $12.5 billion and $13.1 billion in fiscal 2010.