Walmart Announces $11.8 To $12.8 Billion FY2015 Global Capital Expenditure Plan; Company Remains Focused On Comp Sales Growth, International Returns, Leverage Initiatives And Capital Discipline
During fiscal year 2015, Sam’s Club will open approximately 17 to 22 clubs, including relocations and expansions. Remodeling is slated for between 55 and 60 clubs. Sam’s is projecting a capital budget of approximately $1 billion, in line with its updated plan for fiscal year 2014.
Walmart International Details
Walmart International decreased its fiscal year 2014 projected capital investments by $500 million to a range of $4.0 to $4.5 billion, due to fewer new store openings in Mexico and India. In addition, International plans to close approximately 50 underperforming stores in Brazil and China. The majority of the closures will occur in the fourth quarter of fiscal year 2014. International now expects to add approximately 14 million net retail square feet, roughly 7 million square feet below its original guidance of 20 to 22 million square feet.
Walmart International continues to invest in organic growth across its markets and expects fiscal year 2015 capital expenditures to range from $4.0 to $4.5 billion, which will generate approximately 12 to 14 million net retail square feet among its 26 markets.“We’ve made progress on having everyday low price in every market, and we are improving our new store performance and e-commerce capabilities,” said Walmart International president and CEO Doug McMillon. “We are confident that with disciplined growth and greater e-commerce integration in our business, we will have in place a solid framework for long-term growth and improved returns. “Our guidance for fiscal year 2015 reflects actions to continue strengthening our position in markets like China and Brazil,” McMillon added. “We are managing our portfolio to be a best-in-class operator through innovation, making compliance a competitive advantage and winning with an e-commerce strategy that offers a unique shopping experience across all channels.” Global eCommerce Details Walmart Global eCommerce President and CEO Neil Ashe outlined the progress made during the past year on the company’s e-commerce strategy. The company made a number of smaller acquisitions during this fiscal year to strengthen technology expertise and add talent.
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