Walmart Inc.
WMT,
said Thursday that it will open more than 30 new Sam’s Clubs, and increase its distribution and fulfillment center network to boost supply chain capabilities over the next several years. The first Sam’s Club, which is part of the discount retail behemoth’s membership-based warehouse division, is planned to open in Florida in 2024. And Sam’s Club will launch five new fulfillment and distribution centers in 2023, with the first location planned to open in Georgia in the third quarter. “The decision to invest in expanding its physical footprint was motivated by historic comparable sales growth, and a record rise in membership over the last two years,” the company stated. Earlier this week, Walmart said it raised its minimum wage for hourly Sam’s Club employees to $15 an hour, which compares with the minimum wage for Walmart stores of $14 an hour. Walmart’s stock, which gained 0.8% in morning trading, has gained 5.7% over the past 12 months through Wednesday, while the Dow Jones Industrial Average has slipped 0.9%.
