new York
CNN
—

Walmart is giving its logo its first facelift in nearly two decades, introducing a new identity that’s a subtle nod to the past.

The 61-year-old company unveiled an update to its brand identity Monday with a redesigned logo that it says is inspired by founder Sam Walton’s old trucker hat.

Walmart’s logo now uses a chunkier font compared to the previous version, with the new font inspired by a font the chain used in the 1980s to early 2000s.

Walmart retains the yellow “spark” often used with the logo; However, a darker blue was introduced to “keep the brand fresh,” the company said. The new logo will appear on the website and app this month and will be rolled out over time across the 10,500 stores, which are also currently undergoing renovations.

“This update, built on the legacy of our founder Sam Walton, demonstrates our evolving capabilities and long-standing commitment to serving our customers of today and tomorrow,” said William White, senior vice president and chief marketing officer of Walmart US, in an explanation.

Walmart last revamped its logo in 2008, when it removed the star used between Wal and Mart and merged the words into one. The new identity came amid a period of declining sales for the company while competition from other major retailers such as Target increased.

However, this new look comes at a time when business is booming for Walmart. Sales at U.S. stores open at least a year rose about 5% in the most recent quarter compared to a year earlier, the company said in its most recent earnings report, and profits rose 8%.

Walmart has attracted higher-income customers by investing in its grocery business and using its massive size to drive down prices amid a historic wave of inflation. The range of clothing, electronics, home furnishings and other goods has also been sharpened. Additionally, the company has strengthened its online business against Amazon, posting 22% sales growth in the U.S. in the most recent quarter.