BENTONVILLE, Ark. — Wal-Mart Stores Inc. has announced plans to build a new home office less than two miles from its current headquarters in Bentonville, Arkansas.

Walmart spokesman Randy Hargrove says the company is in the early planning and design phases of the project and that it will take up to seven years to complete.

An estimated cost of the project has not been determined.

The company said its current operations are in more than 20 buildings and the new headquarters to be built on more than 350 acres will provide more efficiency.

Walmart is the world’s largest retailer and has been in its current home office since 1971.

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