Chicago Wal-Mart Stores Among List of Closures

Wal-Mart Stores Inc. said the store closures will affect 16,000 workers, 10,000 of them in the U.S. Its global workforce is 2.2 million, 1.4 million in the U.S. alone.

The number of stores being closed in relatively small, taking into account the sheer size of Wal-Mart.

Wal-Mart operates about 11,600 stores globally. Finally, Vetr raised shares of Wal-Mart Stores from a “hold” rating to a “buy” rating and set a $67.77 price target on the stock in a research note on Monday, January 11th. Of these, 154 stores are located in the United States, while 60 in the Brazilian market as well as rest in other markets worldwide. “We are supporting those impacted with extra pay and support, and we will take all appropriate steps to ensure they are treated well”. Lowe FS boosted its position in shares of Wal-Mart Stores by 0.6% in the third quarter.

“Actually I’m glad this place picked back up because I was selling more”, the supplier said. But news that Walmart would pull out of two supercenters planned for east of the Anacostia River, where its wares and jobs are wanted most, shocked D.C. leaders.

Twelve of its massive supercentre stores, which employ an average of about 300 people, will be shuttered.

The store closures will start at the end of the month. Last year, Wal-Mart shut three supercentres. 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. These include 102 of its smallest format stores, Walmart Express, which has only been around since 2011.

The experiment seemed to be working.

Also Friday, Walmart announced that as many as 405 new stores would be opened worldwide during its next fiscal year, with a focus on large warehouse stores and suburban areas.

Name SearchWatch Service’ Wal-Mart Stores Inc.

It was unclear whether employees at the Southern California stores would be relocated or laid off. Employees who do not transfer will receive 60 days of pay and severance, if eligible, company officials said. According to Zacks, “Wal-Mart has delivered positive comps in the U.S.in the last five quarters, after delivering negative comps for many quarters”. Stores in Anson, Haskell, Merkel, and Winters will all be put down. Additionally, Sam’s Club plans to open in seven to 10 new locations. That is a slightly slower pace of growth than the 115 it added in 2014. Wal-Mart Stores’s quarterly revenue was down 1.3% compared to the same quarter a year ago.