BENTONVILLE, Ark. — Wal-Mart Stores here said Wednesday it will allocate between $13.5 billion and $14.5 billion to capital spending next year — an increase of approximately 3.7% from the midpoint of the $13 billion to $14 billion it expects to spend this year.
The company said it expects to grow total square footage by 3% to 4% — about the same rate as capital spending — while it expects sales to increase between 4% and 6%.
In the U.S., Wal-Mart expects to spend $7.5 billion to $8 billion — the same amount as this year — to open between 192 and 217 new stores, including 155 to 165 supercenters; between seven and 12 Sam's Clubs; and between 30 and 40 medium-sized and smaller-sized formats (stores below 60,000 square feet). Most of the medium-format stores will be Neighborhood Markets, along with some pilots of a smaller-format store, the company said.
Wal-Mart expects to open 152 supercenters, nine Sam's and one small-format store this year. However, because of the inclusion of the 30 to 40 smaller stores, square footage growth in the U.S. this year and next will be about the same — 11 million square feet — the company noted.