Sam's Club to open over new 30 clubs across the US
The first new Sam's Club location is planned for Florida in 2023
Big stores including Walmart, Home Depot facing ‘historic’ levels of theft
Former Chrysler Chairman & CEO Bob Nardelli on big nationwide retailers facing historic levels of theft and other crimes.
Walmart-owned Sam’s Club says it's expanding its physical footprint after experiencing "historic comparable sales growth" coupled with a "record rise" in memberships over the past two years.
On Thursday, the membership warehouse announced a multi-year plan to open more than 30 new clubs across the nation, each of which will be approximately 160,000 square feet, larger than most current locations.
There will also be "a significant expansion in the omni-fulfillment footprint," including dedicated spaces for curbside pickup, delivery-to-home and ship-from-club orders.
LOWE'S CEO: PHYSICAL STORES ARE 'BIGGEST CENTRAL COMPETITIVE ADVANTAGE' IN RETAIL
A sign hangs outside a Sam's Club store on January 12, 2018, in Streamwood, Illinois. (Scott Olson/Getty Images / Getty Images)
"We've seen remarkable growth over the past few years with a record number of members, and we're excited to bring the experience of Sam’s Club to even more markets as we expand our footprint," Sam's Club CEO Kathryn McLay said in a statement.
The store openings with occur over the next several years. However, the company already set its sights on Florida for the first new location, which will open in 2024.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 80.84 | -0.48 | -0.59% |
The company is also seeking to "modernize its supply chain" by opening five new distribution and fulfillment center locations across the nation in 2023 with "cutting-edge automation." The first location will open in Georgia during the second half of the fiscal year, the company added.
SAM'S CLUB RAISING ANNUAL MEMBERSHIP FEE FOR FIRST TIME IN 9 YEARS
Sam's Club says it has already "invested significantly in its physical footprint" by enhancing member experiences with improved member service desks, and redesigning the majority of its 600 clubs.
A customer stocks up on bottled water in a Sam's Club during a heatwave on July 21, 2022, in Houston, Texas. (Getty Images)
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The latest announcement comes just after Lowe's CEO Marvin Ellison said that physical stores are key to staying competitive in today's retail environment.
"I believe that even during retail apocalypse discussions that the biggest central competitive advantage of retail is, ‘Do you have brick-and-mortar stores, and can you connect those stores digitally to your online site?’" Ellison said during a keynote session at the National Retail Federation's 2023 expo in New York City last week.