• From CNBC:
"Walmart is the nation’s largest grocery by revenue, but it wants to drive more sales of higher-margin items such as apparel. Over the past five years, the retailer has launched new brands and struck partnerships with companies like Reebok, Gap and Justice to expand its offerings in apparel, home and other discretionary categories. Those brands have often come with a higher price point and a focus on style. Many are expanding to more of Walmart’s big-box stores."
Which is why, the story says, "Walmart’s redesigned SuperCenter, located just 16 miles from its Northwest Arkansas headquarters, reflects the retailer’s ambitions to get more customers to turn to its stores and website to fill their closets and living rooms, along with their fridges … Walmart plans to open 30 more redesigned stores by late January and and hundreds more in the following fiscal year, Chief Merchandising Officer Charles Redfield said. He said the locations will vary slightly and will have different elements of the pilot store."
CNBC points out that "the retailer’s strategy has taken on more urgency, after Walmart’s first quarter earnings disappointed Wall Street last month and cut profit expectations. Walmart’s mix of merchandise in the period contributed to its earnings miss. As customers spent more on groceries and gas because of inflation, some decided to not buy other, more-profitable items like clothing and TVs — the very purchases that tend to lift profits."