May 17, 2020

Walmart to remodel 500 stores as part of its $11bn spending plan

Walmart
Retail
grocery
investment
Laura Mullan
2 min
Walmart has reported that its third-quarter total revenue rose 4.2% to US$123.2bn, with same-store sales at its US locations climbing for the 13th consecutive quarter.
American retailer, Walmart, has revealed that it is going to remodel 500 stores and open 20 new stores as part of an $11bn spending plan.

Bolstering it...

American retailer, Walmart, has revealed that it is going to remodel 500 stores and open 20 new stores as part of an $11bn spending plan.

Bolstering its presence in two of the country’s most populous states, the retail giant revealed that the majority of these remodels will happen in Florida and Texas where the firm is set to spend approximately $477mn, opening 14 new stores and remodel 82 others.

As part of the refurbishments, shoppers could see wider aisles, shorter shelving, interactive displays, new signs and flooring in their local Walmart store.

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Through the refurbishments, Walmart will also invest more in its online offerings such as Walmart Online Grocery Pickup, Mobile Express Scan & Go and Walmart Pickup Tower.

"The plan is to continue improving stores and accelerating innovation during the coming year to make shopping faster and easier for our customers," a Walmart spokesman said.

"We'll also continue to look for ways to improve our processes to empower our associates to serve customers even better — we'll be people-powered and tech-enabled, always with our customer's needs in mind."

The grocery giant also said that it would also spend on new store construction and remodels in other states, spending $145mn on

Walmart reported a 2.1% increase in same-store sales for the fiscal year ending 31 January 2018 and said that the growth reflects its efforts to enhance its stores and roll-out innovative services,




 

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May 17, 2020

Jim Donald appointed the CEO of Albertsons

Jim Donald
Bob Miller
CEO
Albertsons
Sophie Chapman
2 min
Jim Donald to replace Bob Miller as CEO of Albertsons
The Idaho-based grocery chain, Albertsons, has appointed Jim Donald as its new Chief Executive Officer.

Donald, who previously worked as the company...

The Idaho-based grocery chain, Albertsons, has appointed Jim Donald as its new Chief Executive Officer.

Donald, who previously worked as the company’s President and Chief Operating Officer, will keep his presidential role.

The new CEO will replace Bob Miller, who will continue in his position as Chairman of the Board.

“Jim Donald has built an exceptional career in retail,” remarked Bob Miller.

“His knowledge of our company and industry is unmatched, and I know his contributions will be invaluable as we enter the next chapter of Albertsons Companies.”

“We look forward to tapping his experience in leading large consumer brands as we work every day to meet our customers’ needs, both in-store and online.”

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In his career, Donald has held positions such as the CEO of Starbucks and the CEO of Pathmark Stores.

The newly-appoint CEO also worked for Albertsons for 15 years, starting 1976, becoming the Vice President of Operations in Arizona.

“Albertsons Companies is uniquely positioned to operate in both a 'four walls' traditional environment and the 'no walls' world of technology,” stated Jim Donald.

“We serve 34 million customers each week across our 2,300-plus stores and serve 5.5 million patients in our 1,700-plus pharmacies.”

“That's a significant food, health and wellness footprint. We're well positioned to serve the evolving needs of today's customer, wherever and whenever they choose to shop with us.”

“I am looking forward to leading this dynamic company as we focus on innovation and customer-centric retailing in all its forms.”

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