Walmart unveils plans for new 350-acre Arkansas campus
Walmart unveiled its plans for new corporate headquarters on Friday.
The yet-to-be built 350-acre campus will be in Bentonville, Arkansas, at the same site where the retail giant already operates warehouses and office buildings.
"Demolition, infrastructure and utility construction will begin this summer. In the next 18 to 24 months, the support and office buildings will be designed and construction will begin," Walmart said on its new home office website. The company aims to open the area in phases between 2020 and 2024, but noted the timing may change.
Dan Barlett, the executive vice president of corporate affairs, likened the plans to creating a "dream home," in an open letter.
"What do associates care about when it comes to their workplace? They want a space that promotes real connections, creativity and health. This means ample natural light, expanded food offerings, convenient parking, fitness options and a child care facility," Bartlett said.
Walmart's new 350-acre campus in Bentonville, Arkansas, will feature bicycle and walking trails. (Walmart)
The campus design was geared toward being an "inclusive and seamless part of the natural beauty of our Northwest Arkansas region." It will feature bicycle and walking trails, and more than 15 acres of lakes.
The retailer said building a new home office was a company goal for years and will attract a new talent pool.
"The new facilities will help accelerate change, accommodate a more digitally native workforce, and encourage more collaboration and speed," according to their website. "The combined changes will help us get the most out of our existing teams, and also help us attract the next generation of talent we need to compete."
Walmart recently posted better than expected first quarter earnings with a profit of $3.8 billion, or $1.13 per share, to beat Wall Street's predicted $1.02 per share.
Walmart said its new campus is aimed at being an "inclusive and seamless" part of northwestern Arkansas. (Walmart)
"We have a stronger foundation in place with our stores, and we're making good progress in eCommerce. We're embracing new processes and technologies with the goal of serving our customers even better," CEO Doug McMillon said in a statement.
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Walmart also launched free next-day delivery to compete with rival Amazon, which already offers free one-day and two-day delivery on items to Prime members.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 90.44 | +2.04 | +2.31% |
Fox Business' Joe Williams contributed to this report.