Wal-Mart to Shut Hundreds of Stores

[marmar]

(Bloomberg) Wal-Mart Stores Inc. plans to close 269 stores, including its experimental small-format Express outlets, in a push to streamline the chain that will eliminate 16,000 jobs.

The move by the largest private employer in the U.S. affects 154 locations domestically, according to a statement Friday. Overseas, the effort includes the closing of 60 money-losing stores in Brazil, a country where Wal-Mart has struggled. The plan will affect less than 1 percent of its total square footage and revenue, the company said.

Chief Executive Officer Doug McMillon took the step after reviewing the chain’s 11,600 stores, evaluating their financial performance and fit with its broader strategy. The move also marks the end of its pilot Wal-Mart Express program, a bid to create a network of small corner stores that began in 2011. Wal-Mart will continue its larger-size Neighborhood Markets effort, though 23 poor-performing stores in that chain also will be closed.

“We invested considerable time assessing our stores and clubs and don’t take this lightly,” McMillon said. “We are supporting those impacted with extra pay and support, and we will take all appropriate steps to ensure they are treated well.” ............(more)

http://www.bloomberg.com/news/articles/2016-01-15/wal-mart-to-shut-hundreds-of-stores-including-express-locations

[403Forbidden]

1. Now all those small towns will be like ghost towns...

...after Walmart drove out all the local mom & pop stores.

[Hayduke Bomgarte]

2. Yeah

But at least theWalton family will still be stinking rich, so there's that...

[Binkie The Clown]

3. My local Walmart is like a ghost town.

All the people I know comment that they go there only very rarely. The whole Walmart model started out with their famous "Made in America" banners. Those got quietly dumped and American workers got dumped too. I feel sorry for the workers who are going to be let go, but Walmart deserves what is happening to it. It is crumbling before our very eyes. It's a slow process, and it may take 10 years to unravel completely, but in 10 years there will be no Walmart.

[katmondoo]

4. Where are they going to put all that junk?

[joeybee12]

5. Map at the link...looks like mainly down South

http://qz.com/595877/heres-a-list-and-map-of-all-the-walmart-store-closings-in-the-us/?utm_source=YPL&ref=yfp