Walmart stores to be remodeled in almost every state; 150 new locations coming in next 5 years

Emily DeLetter, USA TODAY
·2 min read

Days after announcing pay raises for employees and stock options for store managers, Walmart has announced plans to remodel hundreds of existing stores and open more than 100 stores over the next five years.

In a blog post Wednesday, John Furner, president and CEO of Walmart U.S., said the company is planning to planning to build or convert more than 150 stores in the next five years, starting with opening two new stores this spring. Both will be the smaller-format Neighborhood Markets, and will open in Santa Rosa Beach, Florida and Atlanta, Georgia.

Walmart is also finalizing construction plans on 12 new projects to start this year, Furner wrote, including converting a smaller location to a Walmart Supercenter.

In addition, Furner said Walmart will remodel 650 existing stores across 47 states and in Puerto Rico over the next 12 months.

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"Our new and remodeled stores will reflect Walmart's Store of the Future concept, featuring improved layouts, expanded product selections and innovative technology to help our associates better support our customers and make shopping more convenient and enjoyable," Furner wrote.

First announced in 2023, the Store of the Future concept is for brick-and-mortar Walmart stores. Through upgrades and renovations, it aims to "deliver a more modern shopping experience," according to the company.

Walmart promises pay raises to new and existing employees, stock options for store managers

Starting Feb. 1, the base pay for Walmart store managers will increase from $117,000 to $128,000 a year, and depending on a store's profit, annual bonuses could reach up to 200% of a store manager's salary. Walmart said it will invest in its non-salary workers by increasing the hourly wage to over $18.

Furner also announced in January that store managers will receive an annual grant of Walmart stock starting in April. The amount is based on store format, and superstore managers, the largest stores that Walmart operates, will receive $20,000 in stock every year.

Contributing: Emilee Coblentz, USA TODAY.

This article originally appeared on Louisville Courier Journal: Walmart CEO: New locations coming; 650 current stores to be remodeled