4/11/2019, 9:44 AM (Source: TeleTrader)
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Walmart to refit 500 more US stores

United States retail giant Walmart will refurbish an additional 500 stores across the US this year in a bid to stay competitive against e-commerce rivals such as Amazon, the Financial Times reported on Thursday.

As part of its plan, the retailer will upgrade the stores with brighter lighting, wider aisles and self-checkout, which will bring the number of stores that it has revamped in the preceding two years to 1,000. Although it announced plans for upgrades in 36 states earlier this week, which included investments of $265 million for Texas, $173 milion for Florida and $145 million for California, the company did not specify the number of national stores that would be redone. It did not state how much the current upgrades would cost the group, but it spent about $2.2 billin on 500 remodels last year, which was more than one-fifth of its total capital expenditure.

The news comes after Walmart recently said that it would expand the use of robots in its outlets as part of corporate efforts to reduce labor costs. It said the robots will mostly help with inventory monitoring by scanning shelves for products that have run out, cleaning and unloading trucks. Walmart asserted the plans come amid broader efforts to increase wages, introduce new services such as online delivery and provide more time for workers to perform other tasks.

Breaking the News / DZ