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