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Wal-Mart to shutter 269 stores, 154 of them in the US :whofarted: NEW YORK (AP) — Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market. 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. More than 95 percent of the stores set to be closed in the U.S. are within 10 miles of another Wal-Mart. The Bentonville, Arkansas, company said it is working to ensure that workers are placed in nearby locations. The store closures will start at the end of the month. The announcement comes three months after Wal-Mart Stores Inc. CEO Doug McMillon told investors that the world's largest retailer would review its fleet of stores with the goal of becoming more nimble in the face of increased competition from all fronts, including from online rival Amazon.com. "Actively managing our portfolio of assets is essential to maintaining a healthy business," McMillon 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." Wal-Mart operates 4,500 in the U.S. Its global workforce is 2.2 million, 1.4 million in the U.S. alone. Wal-Mart has warned that its earnings for the fiscal year starting next month will be down as much as 12 percent as it invests further in online operations and pours money into improving customers' experience. Of the closures announced Friday, 154 locations will be in the U.S., including the company's 102 smallest-format stores called Wal-Mart Express, which were opened as a test in 2011. On the surface that might sound like a good thing but i dunno... | |
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Walmart actually opened stores in Brazil? Poverty is so high in certain areas..They would have come off better funding Food & Clothing banks and getting a tax write-off.... | |
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good! i'm sorry for their employees but maybe this will give the old-style local mom n pop stores a chance come back again | |
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Nope..Mom'n Pop stores don't know what to do with a Mop & a bucket of water...I'll stick with Rich & Clean Stores like Walmart & Publix... | |
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don't know where you live but round here we have nice clean small stores. guess it is case by case | |
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I'm not surprised .Amazon is amazing and i use it every month .Being a PRIME member is great cuz u get everything u order in 2 days and the UPS man delivers it .That saves u a trip to the store There's Joy in repetition | |
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Exactly...and what you think is Clean I probably would consider filthy & Nasty...Like you said case by case... | |
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A lot of people are choosing to shop at places like Walmart because Mom & Pop stores are charging twice as much for the same products. I do a lot of my grocery shopping at Walmart and I'm amazed at the money I save compared to the Mom & Pop stores and even at larger grocery chains like Kroger's, which is also way overpriced on a lot of their items. I'm not paying $4 for a bottle of Spic & Span when I can get it at Walmart for $2. "It's not nice to fuck with K.B.! All you haters will see!" - Kitbradley
"The only true wisdom is knowing you know nothing." - Socrates | |
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I keep forgetting you live in a very small town. | |
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Uh, don't even try it...you don't know where I Live and I don't know where you live, but my profile says I Live in South Carolina... | |
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yes but those lowered prices represent overseas manufacturing which means terrible shoddy product, lost jobs in the US because manufacturing was sent overseas and more unregulated pollution that the overseas manufacutring sector doesn't care about. | |
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Chancellor said:
Uh, don't even try it...you don't know where I Live and I don't know where you live, but my profile says I Live in South Carolina... wow. seriously? Might be mistaking u for someone else but trust that's as deep as it gets. | |
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