Walmart details capital investment plans for Texas, Florida, Ohio and other states
Walmart plans to spend invest more money in its stores in Texas this year than any other state.
The discounter detailed its spending plans for store openings and remodels along with in-store technology initiatives. The spend is part of Walmart’s total capital expenditures guidance of approximately $11.0 billion for its current fiscal year.
As previously announced, Walmart’s store spend this year is heavily weighed toward remodeling, with some 500 remodels and 20 openings planned. The retailer also plans to expand several in-store services, including adding more online grocery pickup locations, and more high-tech pickup towers.
Here is how the discounter’s plans shape up in several states:
• Texas: Walmart will invest $277 million in the Lone Star State to open four stores and remodel more than 40 locations, with many in the Dallas-Fort Worth area. Texas is Walmart’s largest state, with 508 Walmart stores, 85 Sam’s Club stores and 19 distribution centers.
• Florida: Walmart will spend about $200 million during the next year through the opening and remodeling of 43 stores in Florida.
New stores are planned for Central Florida (one), Jacksonville (two) and Miami-Fort Lauderdale (three), with remodels in in Central Florida, the Panhandle, Tampa Bay, West Palm Beach, and other parts of the state. Walmart will open a new distribution center in the City of Cocoa later this year.
• California: Walmart is making a $145 million investment in its California stores. The money will be used to remodel 33 stores in the state, and open a new location in Fresno.
• Ohio: Walmart will spend $94 million on its Ohio footprint, with 27 remodels planned.
• New Jersey: Walmart is spending $68 million to extend its presence in the Garden State. It will open one new store, in Mount Laurel, and remodel 11 existing sites.
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