Wal-Mart to shutter 269 stores, 154 of them in the US

The store, which opened in 2002, sits amid empty parking lots and a closed former Sam’s Club on 50 acres now planned for a new headquarters for Baltimore-based Under Armour. He said he thinks they need to close a lot more stores than they are planning.

The Walmart Neighborhood Market in West Hartford is the only CT location that will be closing, the company announced.

(WMT) said Friday that it plans to close 269 underperforming stores in the US and globally as well as exit Walmart Express as part of the store closures.

Approximately 10,000 Wal-Mart U.S. employees will lose their jobs and another 6,000 jobs will be lost internationally.

If not, the company will provide 60 days of pay – and severance to those who qualify, the company said.

Four Walmart Neighborhood Markets in southwest Missouri and ten in Arkansas are among the stores in the US that will close under plans announced by the Walmart corporation Friday.

ROBYN BECK/AFP/Getty Images The closings will effect 10,000 American workers, and Walmart said they hoped to find the employees new positions in nearby company locations. “So we are committed to growing, but we are being disciplined about it”.

‘We invested considerable time assessing our stores and clubs and don’t take this lightly.

The announcement came three months after CEO Doug McMillon told investors the worlds largest retailer would review its store fleet amid increasing competition from all fronts, including online rival Amazon.com and brick-and-mortar dollar store chains.

The domestic store closures will mostly impact the company’s Wal-Mart Express stores, which account for 102 of the closings.

A Walmart store in Miami.

Sixty are “recently-closed, loss-making” stores in Brazil. The shops were conceived as 12,000-15,000-square-foot convenience stores that would backfill rural areas and penetrate urban markets.

Wal-Mart said the move would reduce earnings by 20 cents to 22 cents a diluted share, with almost all of that to be booked in the fourth quarter ending this month. Analysts have pegged fourth-quarter earnings at $1.46 per share and full-year earnings at $4.56 per share.

There are now at least 35 Wal-Mart stores in CT.

Stores in Walnut and Sardis, both in Northern Mississippi, are on the closure list.