Walmart closing 269 stores, including entire 'Express' format

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The other 55 stores outside the U.S. that will close "are primarily small, loss-making stores in other Latin American markets". These small stores were in the pilot testing since 2011.

City Administrator Austin Gilley said the city was told the store performed well but the decision was a corporate move to close Express stores nationwide. Those stores are about 12,000 square feet and sell essentials such as toothpaste.

In the U.S., Walmart will now focus on supercenters, Neighborhood Markets, the e-commerce business and pickup services for shoppers.

Walmart will close an additional 23 Neighborhood Markets, 12 Supercenters, 7 stores in Puerto Rico, 6 discount centers, and 4 Sam's Clubs. Wal-00Mart's total store count worldwide is 11,600.

Wal-Mart earnings have been strained by its decision past year to raise entry-level wages and invest more money in its online business to better compete with Amazon.com Inc.

"The important thing to understand is that we are growing overall in Mississippi", Hatfield said.

Locally, Walmart operates four stores in Sarasota, three in Bradenton and one in Lakewood Ranch.

An approximate 16,000 employees will be affected by the closings, with 10,000 of them in the US.

Wal-Mart is just the latest chain to announce store closures after the retail industry struggled through the holiday season. The company said is it also closing 115 stores outside the United States, including 60 stores already closed in Brazil.

"As part of a broad, strategic review of our existing portfolio and pipeline, we've concluded opening two additional stores in Washington, DC is not viable at this time". According to its release, Walmart plans to open 50 to 60 Supercenters as well as 85 to 95 Neighborhood Markets in its fiscal 2017, which begins February 1.

Walmart also announced plans to open 200 to 240 stores worldwide during the coming year. In addition, associates that were affected by this Brazil stores closure had already been relocated to different stores by the giant retailer.

Over 95% of the stores that will be closed in the United States are 10 miles or less from another existing Walmart store and the company has pledged to ensure workers are placed in locations close to their current store or where they live. Per the analysis, Walmart has chosen to end its Express program, which involved a series of tiny stores to serve as an alternative to drugstores and dollar-stores.

 

 

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