Walmart could open a new store. That would need more employees and, presumably, the store would generate a profit for the group. So looking at the marginal employee doesn't tell the whole story either - hiring one more employee isn't enough to open the next store, you'd need to hire another 30 more (or whatever the figure is) to see an increase in profit.
Isn't the Walmart population in the US roughly stable at this point? I would imagine that if WalMart could identify a location where a store would be obviously profitable then they would open it immediately.