Wal-Mart puts expansion on 2005 agenda
Oct 6, 2004 11:52 AM, from staff and wire reports
Wal-Mart Stores Inc intends to expand its store space by 8% in the fiscal year starting in February 2005. This includes three new food distribution centers and three new regional general merchandise distribution centers, which will add more than 5 million square feet of distribution space.
The planned increase exceeds the 655 million square feet the Bentonville AR-based retailer plans to be operating by the end of this fiscal year. Wal-Mart said relocations or expansions of existing discount stores would account for about 160 of the 240 to 250 Supercenters it plans to add.
In fiscal 2005, the firm said it will add 25 to 30 new Neighborhood Market stores and 30 to 40 Samís Club operations. Wal-Martís international division intends to open about 155 to 165 stores in existing markets, with 30% of this total as relocations or expansions.
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