*Walmart has had a strong financial performance in 2024, exceeding expectations across key categories, partly due to its price rollback program.
According to The Street, the retail giant, which reported fiscal Q1 2025 earnings in May, has committed to investing over $9 billion to revamp at least 1,400 stores, making them cleaner and more navigable.
“Our results were stronger than we anticipated, with sales growth of 5.7% and adjusted operating profit up 12.9% in constant currency. All three operating segments performed well,” Chief Executive Doug McMillon said on the earnings call.
“Our store remodels look good and are performing well. Plus, our curbside pickup and delivery capabilities are improving, as indicated by our customer experience metrics,” McMillon told analysts on the Q1 call.
The $9 billion multi-year overhaul includes introducing new food options. On Tuesday, Walmart announced a partnership with Knuckies Hoagies, a Georgia-based chain known for specialty sandwiches and cheesesteaks.
Knuckies, founded in 2019, has been recognized as one of the most popular U.S. restaurants with fewer than 40 locations. The food chain currently operates 14 outlets in Walmart stores across six states, including Georgia, South Carolina, North Carolina, Tennessee, Oklahoma, and Texas.
“We are using Knuckies Hoagies as our way of always ‘Striving to make a difference: One Hoagie, One Guest, One Community at a time!’ This mission is at the core of everything we do at Knuckies Franchise Company, and we are excited to extend our reach to even more communities through this incredible partnership with Walmart,” Founder and CEO Todd Broaderick said in a release.
The Walmart/Knuckies “partnership offers a unique opportunity for passionate entrepreneurs to open a Knuckies Hoagies location within select Walmart stores,” per the release.
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