Wal-Mart Plans 120-125 New Superstores In FY 1999
Federal Filings via Dow Jones
FORM TYPE: PRNews
ISSUER: WAL-MART STORES INC.
SYMBOL: WMT
BENTONVILLE, Ark., Oct. 7 /PRNewswire/ -- Wal-Mart Stores,
Inc., announced its development plans for the fiscal year beginning
February 1, 1998.
Domestically, the Company plans to open approximately 50 new
discount stores, and 120 to 125 new Supercenters. Approximately, 90 of
the new Supercenters will come from relocations or expansions of
existing discount stores. The Company also plans to open approximately
10 new Clubs.
Internationally, the Company plans to develop 50 to 60 new
retail units. These stores are planned in Argentina, Brazil, Canada,
China, Indonesia, Mexico and Puerto Rico.
This planned growth represents approximately 26 million square
feet of additional retail space. The Company will continue its remodel,
relocation, and store expansion programs.
In addition, the Company plans to open one regional general
merchandise and two food distribution centers in the next fiscal year.
As of September 30, 1997, the Company had 1,922 Wal-Mart
stores, 407 Supercenters, 442 Sam's Clubs, 8 Argentina units, 8
Brazilian units, 140 Canadian Wal-Mart stores, 2 China stores, 2
Indonesian Supercenters, 392 Mexican units, and 12 Puerto Rico units.
Wal-Mart operates in all fifty states, Argentina, Canada,
Mexico and Puerto Rico, and in Brazil, China and Indonesia under joint
venture or franchise agreements. Wal-Mart employs over 687,000
associates in the United States and 59,000 internationally. Its
securities are listed on the New York and Pacific stock exchanges.
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(END) FEDERAL FILINGS-DOW JONES NEWS 10-07-97 |
