Wal-Mart announces expansion plans
Oct 4, 2001 12:00 PM, Misty Reagin
Bentonville, Ark. – Locally based Wal-Mart Stores Inc. plans to continue its aggressive unit growth for the fiscal year beginning February 1, 2002. Domestically, the Wal-Mart division expects to open approximately 50 new discount stores and 180 to 185 new Supercenters.
The company will further expand its Neighborhood Market concept by adding 15 to 20 new units in the upcoming fiscal year. The Sam’s Club division will open 50 to 55 domestic clubs, nearly half of which will be relocations or expansions of existing clubs.
Wal-Mart International plans to open 120 to 130 units in existing markets.
“The planned square footage growth for the coming year represents approximately 46 million sq. ft. of new retail space, which will be the largest square footage increase in the company's history and a 9% increase over the fiscal 2002 total," said Lee Scott, president and CEO.
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