Focus Equities

Wal-Mart Stores to Invest in Florida


Shares of Wal-Mart Stores (WMT) were barely higher Tuesday after the retail giant said it plans to invest approximately $450 million in Florida this fiscal year and create more than 2,750 jobs. Wal-Mart said it will open nine new stores in Florida, creating more than 800 jobs statewide. It will also implement a multi-million-dollar capital investment plan by remodeling more than 40 locations.

The company will also open an e-commerce distribution center campus in Davenport, with an investment of more than $300 million and plans to hire at least 1,000 associates over the next year. Wal-Mart also confirmed its plans to break ground on a new distribution center for perishable goods in Cocoa. It is planning an investment of over $145 million on the new distribution center and expects to employ more than 450 workers once it is fully operational.