Walmart Closing 269 Stores...

[Foggy]

...Is yours one of them. Click here to found out:

http://finance.yahoo.com/news/list-m...181249689.html

[IllinoisTVFan]

I feel bad for the employees but not the chain. They did it to themselves by buying cheap (which meant more junk from China)costing many American jobs.

[Family Ties Forever!]

link

Wal-Mart To Close 269 Stores, 2 In Houston
10,000 US workers affected
By AP Author
Posted: 8:48 AM, January 15, 2016
Updated: 6:52 PM, January 15, 2016

New York - Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market. Two Houston locations are on the list of closings. The store locations are at 7075 FM 1960 Rd. W and 2740 Gessner Rd. The stores being shuttered account for a fraction of the company's 11,000 stores worldwide and less than 1 percent of its global revenue. The closures will affect 16,000 workers, 10,000 of them in the U.S.

The announcement comes three months after its CEO Doug McMillon told investors the world's largest retailer would review its store fleet in amid increasing competition from all fronts, including from online rival Amazon.com.
In the U.S., 154 locations will be closed, most of them small format stores called Walmart Express, which were launched as a test program in 2011. The remaining 115 locations to close are spread over Latin America, mostly in Brazil. Wal-Mart posted a statement and a list of store closings on its website. Two store locations in Houston are set to close See the full list here.

Copyright 2016 by KPRC Click2Houston. The Associated Press contributed to this report. All rights reserved.

[Foggy]

Originally Posted by IllinoisTVFan

I feel bad for the employees but not the chain. They did it to themselves by buying cheap (which meant more junk from China)costing many American jobs.

Not hurting the chain any at all...
Walmart plans to open up 300 new stores around the world by next year.

The company said the closures were part of a “sharpened focus on portfolio management” and that 102 of the U.S. closures will result as it ends its Walmart Express store test program, which was started in 2011.

“Actively managing our portfolio of assets is essential to maintaining a healthy business,” Doug McMillon, president and CEO, Wal-Mart Stores, Inc., said in a statement. “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 company also said that the closures will affect 23 Neighborhood Markets, 12 Supercenters, seven stores in Puerto Rico, six discount centers, and four Sam’s Clubs outlets.

Walmart currently has 4,500 stores in the U.S.

Despite the closings, though, the company also happens to be planning the openings of several stores, including 50 to 60 Supercenters, 85 to 95 Neighborhood Markets, in addition to as many as seven new Sam’s Club stores over the next year.

The company also notes that 16,000 Walmart associates worldwide will be affected by the closings.

“The decision to close stores is difficult and we care about the associates who will be impacted,” McMillon said in the statement. “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.”

Follow Warner Todd Huston on Twitter @warnerthuston or email the author at igcolonel@hotmail.com

http://www.breitbart.com/big-governm...10000-layoffs/

"We are supporting those impacted with extra pay and support, and we will take all appropriate steps to ensure they are treated well.".....

In other words a "severance package," which might include "limited insurance" for a short period of time and "their vacation pay."

[Bonniegirl]

The closest Wal Mart to me isn't closing. I don't go there that much anyway though. There are Targets closer to me, and Target is much better anyway!

I'm checking to see the Wal Marts in Pa. My nephew works there .I hope his store doesn't close!

[AB]

In our city they have three Super Walmarts and three of the smaller grocery/pharmacy Walmarts. It's like they are trying to take over and put the other stores out of business. They built one of those grocery store Walmarts less than a mile from Krogers. You'd think they would close at least one of them in our city but none were on the list. They are closing one in a neighboring county that has only been open about a year and that small county really needed a Walmart.

[Dude111]

260 now??

The other day it said 150!!


Ah man!!

[Kasey]

Good riddance! They are disgusting.

[PZelda]

Most of the US stores they closed were down south and were pilot Express stores (very small stores, like c-stores). Walmart has decided not to continue with Express stores. Some of the ones they closed were due to other reasons, high theft being a common reason.

I worked with a really nice co-manager who accepted a promotion as store manager at a Neighborhood Market (NHM - that's the "Walmart grocery store"). Opened just a year ago. And his NHM was one of the ones that closed on 1/28.

150 was the number of US/PR stores closing (154), 269 is the total number of stores closing worldwide, with the 154 US stores included in that count.

[Family Ties Forever!]

There is a Walmart (regular one, no food) that is closing down that I haven't been to in years.