Sam’s Club, Walmart Inc.’s warehouse retailer, is planning 30 new US stores over the next several years after half a decade of stagnation in its commercial footprint.
(Bloomberg) — Sam’s Club, Walmart Inc.’s warehouse retailer, is planning 30 new US stores over the next several years after half a decade of stagnation in its commercial footprint.
The first new warehouse club is slated to open in Florida in 2024, Sam’s Club said in a statement Thursday. The company is also planning to add five new fulfillment and distribution centers in the near future, with the first to open in Georgia later this year.
The retailer is expanding its store count after a sales surge fueled by the pandemic and rising inflation, which prompted shoppers to seek out lower prices and also spurred gains at Costco Wholesale Corp. and BJ’s Wholesale Club Holdings Inc. Sam’s Club has about 600 locations in the US and Puerto Rico, but it hasn’t added a traditional store in its home market since 2017.
“We’ve seen remarkable growth over the past few years with a record number of members, and we’re excited to bring the experience of Sam’s Club to even more markets as we expand our footprint,” Kathryn McLay, the chief executive officer of Sam’s Club, said in the statement.
Walmart climbed less than 1% at 10:21 a.m. in New York. Costco and BJ’s posted similar gains.
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