Walmart’s omnichannel vision drives its small format growth
BENTONVILLE, Ark. — Walmart will be opening more small stores next year and beyond as the company pursues a vision of omnichannel retailing that it contends no other company is capable of executing.
Walmart U.S. president and CEO Bill Simon on Tuesday morning shared a message of physical and digital convergence involving an acceleration of smaller format stores and continued advancement of the retailer’s digital capabilities. He suggested multiple times during his presentation that the company has reached an inflection point in terms of building a next generation retail enterprise.
According to Simon, Walmart’s capital budget for domestic purposes next year will range between $5.8 billion and $6.3 billion, resulting in the addition of between 235 and 265 stores — including between 120 and 150 small format stores, versus 115 this year — encompassing between 19 million and 21 million sq. ft.
If Walmart finds itself at the upper end of that range of possibilities this time next year it will be a modest increase in domestic expansion at a potentially lower cost as Simon said Walmart has reduced store opening costs by 15%.
During the current fiscal year, which ends in late January, Walmart said it will spend between $6 billion and $6.5 billion to open a total of 245 stores encompassing 18 million sq. ft., above the company’s earlier forecast which called for spending of $5.5 billion and $6 billion 220 to 240 units and 15 million to 17 million sq. ft.
The expanding base of small stores coupled with more than 3,000 supercenters give Walmart multiple points of access to offer shoppers a highly integrated experience that no other retailer can touch, according to Simon.
Sears Holdings event to highlight efforts to help veterans transition to civilian workforce
HOFFMAN ESTATES, Ill. – Sears Holdings Corp. is honoring members of the armed forces with an inaugural "Invite a Veteran to Work Day" at its headquarters and nearly 2,000 stores next month.
The event will take place on Nov. 6 at the retailer’s Hoffman Estates, Ill., headquarters and at 1,800 Sears and Kmart stores across the country. At each event, the company will honor the veterans; provide a rare, behind-the-scenes look at the company’s operations; and share how they can transition into the civilian workforce and prepare themselves for a career with the company.
"We recognize the key role the veteran community plays in the workforce as evidenced by our 30,000 veteran associates, many of whom are still serving in the National Guard and the Reserve forces," Sears Holdings VP talent acquisition and diversity Sherry Nolan-Schultz said. "We invite all veterans to join us on this unique day to learn more about our company, career opportunities and workforce re-entry strategies."
Food Lion Charitable Foundation, Western Union Foundation partner to help fight child hunger
SALISBURY, N.C. — Feeding America has announced that the Food Lion Charitable Foundation and The Western Union Foundation have rejoined forces to donate $200,000 to Feeding America and nine of its member food banks.
The Food Lion Charitable Foundation’s contribution is in support of addressing child hunger, while The Western Union Foundation is funding the educational component. The grant focuses on students in the communities that Food Lion and Western Union serve.
Food Lion Charitable Foundation president Kevin Hill and Frank Lockridge, VP strategic accounts at Western Union, presented checks to representatives from the respective food banks during an Oct. 15 presentation at the Food Lion corporate offices in Salisbury.
The nine food banks in the Feeding America network that are recipients of the donation employ a variety of innovative approaches to provide nutritious food and nutrition education to children and adults in the communities.
Specifically, the combined donation will support Feeding America’s Kids Cafe programs at each of the food banks. For example, the Second Harvest Food Bank of Metrolina has 42 Kids Cafe sites in 12 different counties in North Carolina and South Carolina.
Established in 2001, the Food Lion Charitable Foundation provides financial support for programs and organizations dedicated to feeding the hungry in the communities it serves.