BENTONVILLE, Ark., Jul 29, 2010 (BUSINESS WIRE) -- In recognition of operating more than 8,500 stores worldwide as of this month, executives from Wal-Mart Stores, Inc. (NYSE: WMT) will ring The Closing Bell(R) at the New York Stock Exchange (NYSE) today. Click here to see the event.
"Every retail unit that Walmart opens around the world creates a greater opportunity to save people money so they can live better," said Tom Schoewe, Walmart's executive vice president and chief financial officer. "Walmart operates under multiple formats and banners to best serve the customer or member in their own community. We remain committed to growing our business, leveraging expenses, and producing consistent returns for our shareholders."
As of June 30, Walmart had 8,492 units, of which Walmart International had 4,126, Walmart U.S. had 3,761 and Sam's Club had 605 units. The company has projected a range of $13 billion to $15 billion in capital expenditures this year to fuel growth around the world. All three segments still have significant opportunities to add retail units, with International having the largest growth opportunity this year. Walmart U.S. is targeting expansion into urban markets, such as the recently announced plan to open several dozen stores in Chicago during the next five years. Just this week, the Chicago City Council approved a third Walmart store, located at 83rd Street and Stewart Avenue. Sam's Club continues to strategically add clubs and remodel its current U.S. units.
During July, the company has added stores around the world in various formats and under different banners. The new units range from a VIPS restaurant in Mexico which averages approximately 7,500 square feet, and a Changomas Express in Argentina of around 5,000 square feet, to numerous Walmart supercenters from China to the United States which can be larger than 200,000 square feet. Also this year,
- Walmart Canada opened its 100th supercentre
- China will surpass 300 stores
- Mexico will have more than 70 million square feet of retail space
The final additional unit count and square footage for all of July will be included in the company's news announcement for Walmart's second quarter's earnings on Aug. 17, 2010.
Walmart was started by company founder Sam Walton around the idea of everyday low costs (EDLC) and everyday low prices (EDLP). The first store in Rogers, Ark., opened in July 1962. Since then, EDLP has remained a core value of the company and a key to driving Walmart's growth.
In 1991 Walmart expanded internationally by opening its first store in Mexico and by 1995, the company had stores in all 50 states. Today the company has grown to more than 8,500 units in 15 countries: United States, Mexico, Brazil, United Kingdom, Japan, Canada, China, Chile, Costa Rica, Guatemala, El Salvador, Nicaragua, Honduras, Argentina and India.
Ringing of the closing bell at the NYSE represents a great milestone for Walmart's history. A link to the webcast will be available on the company website at www.walmartstores.com/investors and will be archived for one year.
Wal-Mart Stores, Inc., (NYSE: WMT) serves customers and members more than 200 million times per week at more than 8,500 retail units under 55 different banners in 15 countries. With fiscal year 2010 sales of $405 billion, Walmart employs more than two million associates worldwide. A leader in sustainability, corporate philanthropy and employment opportunity, Walmart ranked first among retailers in Fortune magazine's 2010 Most Admired Companies survey. Additional information about Walmart can be found by visiting www.walmartstores.com. Online merchandise sales are available at http://www.walmart.com and www.samsclub.com.
SOURCE: Wal-Mart Stores, Inc.
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