What's Going On With Walmart Stock Today?

Walmart Inc. WMT shares are trading higher on Thursday.

The company has reportedly made a pact to open a second office space in Chennai, a city in southern India.

Reuters reports that while the retail behemoth does not operate supermarkets in India yet, it has tech hubs in Indian cities such as Chennai and Bengaluru. 

According to Benzinga Pro, Walmart stock has gained over 56% in the past year. Investors can gain exposure to the stock via Vanguard Consumer Staples Index Fund ETF VDC.

Apart from development plans in India, Walmart marked a major expansion of its logistics footprint on Thursday with the opening of a new distribution hub in Jacksonville, Florida.

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The one-million-square-foot facility is designed to streamline deliveries to Sam’s Club locations throughout the Southeast and Puerto Rico.

The warehouse will support 18 Sam’s Club stores across Florida, Georgia and South Carolina, along with seven additional clubs in Puerto Rico. Situated just minutes from the Port of Jacksonville, the facility also plays a critical role in routing imported goods to four regional distribution centers.

Frank Herrera, general manager of the new center, said the project is more about opportunity.

“Each position brings a pathway for opportunity at Walmart and Sam’s Club,” Herrera stated.

The facility has created numerous new full-time jobs, which come with access to Walmart’s total rewards package, per a press release.

WMT Price Action: Walmart shares are trading higher by 2.85% to $93.79 at publication on Thursday.

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