Walmart has been shopping its retail empire for years, but the grocery giant is about to have more than enough money to do it, according to analysts at R&, a retail consultancy.
Walmart is the first of the big four grocery chains to announce a $30 billion retail plan in 2020.
In a statement, Walmart said it would use the cash to expand its presence in new areas and “strengthen its relationships with local retailers” and “create a more efficient and connected shopping experience.”
T&&t will have $30B of cash on hand to expand into new areas.
That would give it more than a third of Walmart’s retail business.
The company also said it will continue to expand at least in areas like its grocery stores.
Walmart has more than 400 stores in 20 states, according a Wall Street Journal analysis.
Its growth has been driven largely by its low prices and high customer service.
Wal-mart, which has seen a number of competitors such as Kroger and Kroger Supercenter move into the grocery business, is expected to have $200 billion in annual revenue in 2020, according the analysts at the consultancy.
T &&s retail footprint is growing at a much slower pace than Wal-Marts.
In 2020, Walmart stores in the U.S. totaled just 7.5 million, according an analysis from consultancy Gartner.
As a result, T &t is facing a “major challenge in expanding its footprint” because it has to compete with Kroger, Kroger’s chief rival in grocery retail, according Gartners analysts.
T>&ts growth has slowed, however, in recent years.
According to the analysts, Wal-marts growth has fallen from about 2% in 2006 to 1.5% in 2014.
Gartner expects Walmart’s growth to continue to fall, from 3.2% in 2020 to 1% in 2024.