Big box retailers are doubling down on investments, including technology and store redesigns, as the way consumers shop after the pandemic is transformed.
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At Walmart, money is pouring into initiatives including VizPick, an augmented-reality system linked to worker cell phones that lets associates restock shelves faster. The company boosted capital spending 50% to $7.5 billion in the first half of its fiscal year, which ends in January. Its capital spending budget this year is expected to rise 26 percent to $16.5 billion, CFRA Research analyst Arun Sundaram said.
"To serve our pros, it's really about removing friction through a multitude of enhanced product offerings and capabilities," executive vice president Hector Padilla told analysts on Home Depot's second-quarter call."These new supply chain assets allow us to do that at a different level."Some broadline retailers are more focused on refreshing an aging store brand.
That is enough to make even Amazon tap the brakes a little bit, with chief financial officer Brian Olsavsky telling investors Amazon is shifting more of its investment dollars to the cloud computing division. This year, it estimates roughly 40% of spending will support warehouses and transportation capacity, down from last year's combined 55%.
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