Wal-Mart to focus on remodels at home, expansion abroad
October 23, 2009-- Home Textiles Today,
Bentonville, Ark. – Wal-Mart Stores Inc. will raise capital expenditures next year as it boosts the pace of store remodels in the U.S. and expands into emerging markets.
By next month, Walmart U.S. will have completed Project Impact remodels at more than 30% of its 3,538 stores. It expects the format to be represented in 70% of its stores by the end of fiscal year 2012, including newly-constructed stores.
Sam's Club will open from five to 10 new, expanded or relocated clubs next year. In the current fiscal year, it plans to add 15 clubs.
The bulk of Wal-Mart’s expansion will take place overseas as the international division plans to expand by 25 million square feet, with a particular emphasis on China and Brazil.
The company has earmarked $13 billion to $15 million for cap ex in the next fiscal year. The current fiscal year’s spending is expected to come in at $12.5 billion to $13.1 billion – a step up from $11.5 billion spent in the previous fiscal year.
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