The world’s largest retailer announced Friday it is closing 269 stores, including 154 in the US, including all of its locations under its smallest-format concept store called Walmart Express. The company said the closings aim to help it better focus on strengthening supercenters, “optimizing” Neighborhood markets, growing e-commerce and expanding store pickup options.
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More than 95 percent of the stores set to be closed in the USA are within 10 miles of another Wal-Mart.
WalMart said it would provide 60 days of pay and severance for eligible workers not placed. This wave of store closures includes the retailer’s 102 Wal-Mart Express locations, with locations in Leonard and Whitewright, both of which opened about a year ago. All but one of the USA stores will close by the end of the month. The 17th store is a Wal-Mart Supercenter in Durham.
The company said that decisions for closing stores are never easy. Executives in October already has said they were considering store closings, as they look to overhaul older supercenters.
The closures – dominated by 154 USA locations – will include a Wal-Mart in Long Beach and another in Los Angeles as well as smaller Wal-Mart Neighborhood Markets in Altadena, San Bernardino, Los Angeles, Bell Gardens and Hawaiian Gardens. Even with today’s actions, Walmart will continue to invest in its future, with plans to open more than 300 new stores worldwide over the coming year. The communities living nearby mainly visited this supermarket as there are no other available close to numerous South Baltimore neighbourhood.
The announcement comes three months after Walmart Stores Inc.
“It’s a shame, isn’t it?” said Glenda Hammontree, 61, who said she makes the 5-minute drive to the store several times a week. The company has not released a list of the stores impacted. The Sam’s Club store in Worcester will remain open.
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Wal-Mart has almost 11,600 stores around the world. “We are supporting those impacted with extra pay and support, and we will take all appropriate steps to ensure they are treated well”. McMillon noted that the revenue generated by the stores that will close accounts for 1 percent of Wal-Mart’s $485.7 billion in revenue and total square footage worldwide.
