JUST IN: Wal-Mart to close 269 stores as it retools fleet
Wal-Mart said Friday it will close 269 stores across the globe, including 154 in the U.S. The world's largest retailer also will open as many as 405 stores globally in the coming fiscal year, as it shifts its focus toward Supercenters and Neighborhood Markets in profitable locations.
In all, 16,000 employees will be impacted by the store closings, about 10,000 of whom are in the U.S.
The domestic store closures will mostly impact the company's Walmart Express stores, which account for 102 of the closings. These small stores, which are comparable in size to a dollar store, had been in pilot since 2011. They were rebranded as Neighborhood Market in 2014.
Also domestically, Wal-Mart will also close 23 Neighborhood Market stores, 12 Supercenters, seven stores in Puerto Rico, six discount centers and four Sam's Clubs.
Good report Joe...This is typical Walmart business, they make so much money by moving into communities, setting up shop, lowering prices that force the long time "mom and pop" stores out of business...once that is accomplished they begin to raise prices! They many times have profited so much that they simply close those stores and walk away. They paint a beautiful picture on the initial business talks with community leaders...but look 10 years later....
oh well now they cannot complain about low wages and union employees how is that recovery working for you and oh by the way you can thank the fed for pumping up the money supply have you looked at the market today
I usually go to the one in Fruitland because it's not as busy as the one up north, but it's also not as clean, I bet the Fruitland store closes. Walmart employees have noting to fear, most are already on government assistance, all they have to do is change their income status and the benefits they get will just go up along with their unemployment checks. Mo Money Mo Money fur Walmart stock! Stocks are down today, they cut some heads and stores they'll be back to rolling in the dough.
Thanks for helping us that work at Walmart trying to support our families by hoping they close. Let's hope the same thing doesn't happen to you & your family.
109...your crazy. Sby walmart is already packed enough. Sometimes its like a third world country in there. Fruitland is a somewhat busy store. Plus all the college go there. Lets keep them down there
Good report Joe...This is typical Walmart business, they make so much money by moving into communities, setting up shop, lowering prices that force the long time "mom and pop" stores out of business...once that is accomplished they begin to raise prices! They many times have profited so much that they simply close those stores and walk away. They paint a beautiful picture on the initial business talks with community leaders...but look 10 years later....
ReplyDeleteHopefully Muir Boda will still have a job
ReplyDeleteIn "profitable locations".
ReplyDeleteIn other words...not in high crime, high shoplifting areas.
Ghetto walmarts, a dying breed?
My guess is south will close.
ReplyDeleteGet rid of some around here. It would be fine with me.
ReplyDeleteoh well now they cannot complain about low wages and union employees how is that recovery working for you and oh by the way you can thank the fed for pumping up the money supply have you looked at the market today
ReplyDeletegood!
ReplyDeletei hate walmart.
support your local businesses instead...
I usually go to the one in Fruitland because it's not as busy as the one up north, but it's also not as clean, I bet the Fruitland store closes. Walmart employees have noting to fear, most are already on government assistance, all they have to do is change their income status and the benefits they get will just go up along with their unemployment checks. Mo Money Mo Money fur Walmart stock! Stocks are down today, they cut some heads and stores they'll be back to rolling in the dough.
ReplyDeleteThanks for helping us that work at Walmart trying to support our families by hoping they close. Let's hope the same thing doesn't happen to you & your family.
ReplyDeleteClose Fruitland. Is stupid that we have 2 anyway within a couple of miles. Won't be missed.
ReplyDeleteLarge companies are always opening new stores and closing unprofitable stores. It is good management.
ReplyDeleteChestertown was smart. They refused and fought for no Walmart. Kept the mom and pops stores open to this day.
ReplyDelete109...your crazy. Sby walmart is already packed enough. Sometimes its like a third world country in there. Fruitland is a somewhat busy store. Plus all the college go there. Lets keep them down there
ReplyDeleteThis is one more sign of the woderful 5% unemployment economy that Obama has given us (actually more like 25% and growing).
ReplyDeleteGuess the contracting Chinese economy is having a direct effect on the US in this case. ChinaMart, I mean WalMart is suffering.
ReplyDeleteSo, why do you shop in a store like a third world country? No one should want to shop someplace like that.
ReplyDelete