WASHINGTON — Walmart is accelerating its expansion plans for Sam’s Club.

During Walmart’s investor day last week, Sam’s Club CEO Chris Nicholas revealed the company’s latest goal to open 15 new stores every year for the “foreseeable future.” The Walmart-owned company’s announcement follows similar moves by competitors BJ’s Wholesale Club and Costco, which both recently announced plans to open new stores.

The new plans outpace the previous commitment by Sam’s Club to open 30 new stores in the U.S. over five years. 

Nicholas added that the company also plans on remodeling all existing Sam’s Club locations, a total of about 600 stores. The newly-opened Grapevine, Texas, location will serve as the standard for the renovations.

“This is one of the fastest, most scalable transformations happening in retail today,” Nicholas said in a press release. “We’re investing with intention — in our fleet, our associates and the member experience — to become the world’s best club retailer.”

The company’s ambitious growth strategy aims to double its membership base within the next eight to ten years.

In an interview with CNBC, Nicholas addressed concerns about the expansion plan amid President Donald Trump’s sweeping tariffs. Walmart recently held off on its first quarter earnings outlook, citing impact and uncertainty of the tariffs.

The Sam’s Club CEO told the outlet he was confident that demand for the wholesale club will hold up even during economic uncertainty and added that the store’s focus on saving money may make them even more relevant. 

“In times of plenty, we do well. But in tough times, we do really well,” Nicholas told CNBC last week.