What's Going On With Retail Giant Walmart Shares Today?

Walmart Inc. WMT is planning to build or convert more than 150 stores in the next five years while simultaneously remodeling existing stores. 

During the next 12 months, the company plans to remodel 650 stores across 47 states and Puerto Rico – creating tens of thousands of jobs supporting these projects.

These efforts represent millions of dollars in capital investment of labor, supplies and tax revenue, which benefit their respective communities. And they’ll help us reach and serve even more customers. 

Also Read: Walmart’s Financial Services Embroiled In Frauds Costing Consumers Billions Of Dollars: Report

“I’m excited to say the first two new stores under this initiative, both Neighborhood Markets, are set to open later this Spring in Santa Rosa Beach, Florida and Atlanta, Georgia,” John Furner, President and CEO, Walmart U.S. said. 

“We’re also finalizing construction plans on 12 new projects we intend to start this year, along with converting one of our smaller locations to a Walmart Supercenter,” Furner added.

On Tuesday evening, the company said it will conduct a 3-for-1 stock split.

Walmart stated that the split, which was approved by its board, is part of its goal to make purchasing shares attainable, including for its 400,000 plus associates who take part in Walmart’s Associate Stock Purchase Plan.

Doug McMillon, president and CEO of Walmart, echoed the sentiment, saying, “Sam Walton believed it was important to keep our share price in a range where purchasing whole shares, rather than fractions, was accessible to all of our associates. Given our growth and our plans for the future, we felt it was a good time to split the stock and encourage our associates to participate in the years to come. As Sam said, ‘We’re all in this together. That’s the secret.”

Price Action: WMT shares are trading higher by 0.27% to $166.03 on the last check Wednesday.

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