Walmart is to build or expand 150 stores across the US over the next five years.
Owner John Furner said the company also plans to remodel 650 stores across 47 states and Puerto Rico.
The move is set to create thousands of new jobs, both at Walmart and in companies carrying out the work.
Furner said the company will pump "millions of dollars in capital investment of labor, supplies and tax revenue, which benefit their respective communities."
The first two stores will be Neighbourhood Markets in the spring.
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They will be in Santa Rosa Beach, Florida, and Atlanta, Georgia.
Furner added the company is in the final stages of constructing 12 new projects hoped to start this year.
There is also a plan to convert a smaller location to a Walmart Supercenter.
The new facilities will be designed with sustainability in mind, including more energy-efficient equipment and lighting.
Furner said: "We’re proud that improving our stores also has a tangible impact in the communities we serve. What a win it is to invest in America, grow our business and move toward a more sustainable future – all at the same time."