Walmart to build or convert 150-plus stores in next 5 years. It hasn’t opened new stores in 3 years

(AP) — Walmart plans to build or convert more than 150 U.S. stores in the next five years, while continuing to remodel existing stores.

The plan, announced Wednesday, marks a big change for the discounter.

Walmart had announced in 2016 it was slowing its new store openings and instead investing in its online efforts, technology and store remodels as it aimed to be more competitive with online behemoth Amazon.

The discounter hadn’t opened a new supercenter since November 2021.

But now Walmart, like many other retailers, is relying more on its physical stores to fulfill online orders and use them as online pickup locations.