Walmart is introducing a new identity that subtly references its history while giving its logo the first redesign in almost 20 years.

The 61-year-old business on Monday introduced a new logo that it claims was inspired by founder Sam Walton's old trucker hat as part of a corporate identity revamp.

Compared to its previous version, Walmart's logo now features a chunkier font. The new font was inspired by a typeface the chain employed from the 1980s to the early 2000s.

In order to "keep the brand fresh," Walmart has added a deeper blue to its logo while keeping the yellow "spark" that is frequently used with it. This month, its website and app will debut the new logo, which will eventually be sent out to its 10,500 shops, which are also undergoing a makeover.

In a statement, Walmart US senior vice president and chief marketing officer William White stated that this update, which is based on the history of our founder, Sam Walton, shows our growing capabilities and enduring dedication to serving their consumers of today and tomorrow.

The last time Walmart changed their logo was in 2008, when it merged the words "Wal" and "Mart" into a single word instead of using the star. The company's declining sales throughout the time of the new name coincided with increased competition from large box stores like Target.

But this new style comes at a time when Walmart's company is flourishing. According to the company's latest financial report, sales at its US locations that have been operating for at least a year increased by around 5% in the most recent quarter as compared to the previous year, and its profit increased by 8%.

By investing in its food sector and utilizing its enormous size to push down costs during a historic period of inflation, Walmart has attracted higher-income customers. Additionally, it has improved the quality of its home furnishings, electronics, apparel, and other products. Additionally, it has strengthened its online business versus Amazon, as seen by the 22% increase in US sales last quarter.