Walmart to close 154 stores in the US

Walmart to close 154 stores in the US


Shop

Walmart will close 269 locations worldwide, including 154 in the US. This is the worst part when a company wants to keep expanding.

To keep growing, a company may face some tough choices to make. This is exactly how Doug McMillion, President and CEO at Wal-Mart Stores, Inc., explained the situation in a press release: "Actively managing our portfolio of assets is essential to maintaining a healthy business. Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future. It’s important to remember that we’ll open well more than 300 stores around the world next year. So we are committed to growing, but we are being disciplined about it."

The decision follows an analysis of the company's 11,600 locations across the world, which was conducted last year. Numerous factors, such as 'financial performance and strategic alignment with long-term plans' were taken into consideration. As a consequence, 269 locations will close, including 154 in the US, most of them being smallest format stores, Walmart Express.

"The decision to close stores is difficult and we care about the associates who will be impacted. We invested considerable time assessing our stores and clubs and don’t take this lightly. We are supporting those impacted with extra pay and support, and we will take all appropriate steps to ensure they are treated well" adds Doug McMillon. In the meantime, Walmart has goals for the future and plans to strengthen Supercenters and Neighborhood Markets, develop the online business and customers services.

Photo: Walmart

News written by the team of Stores-Locator.com Stores-Locator.com

News in the same category

Pirch: make yourself at home. Really.

Pirch: make yourself at home. Really.

Pirch, a Californian bathroom and kitchen furniture retailer, offers what's best in this area. Still, you can go there and buy a simple plumbing supply at a fair price. And, while you are there, why not try a fancy shower.

  • Shop
  • Way of consumption
American Eagle opens 75 Aerie stores

American Eagle opens 75 Aerie stores

American Eagle is a clothing retail store that was founded in 1977 by the Silverman’s brothers; Jerry and Mark Silverman.

  • Shop
Macy's Fashion Pass for charity

Macy's Fashion Pass for charity

Macy's has launched its own way to mix style and charity with its Fashion Pass. For a few weeks and with $5, both customers and charities will benefit from this innovative idea.

  • Shop
Amazon Go Opens in San Francisco: Taking Automated Convenience to the Next Level

Amazon Go Opens in San Francisco: Taking Automated Convenience to the Next Level

Amazon has been making waves within the digital community for more than a decade and recent innovations have enabled this massive firm to translate its services into the physical world.

  • Shop
Walmart to close 154 stores in the US
Chain stores related to the news
Walmart
  • 3703 store Walmart listed
> All news Walmart