Walmart closing 269 stores; none in the valley

The 60 stores shuttered in Brazil, a market in which the world’s largest retailer has made a big push in recent years, were losing money and represented only 5 percent of Walmart’s sales in that country, the release said.

The closures will affect 154 domestic stores – Wal-Mart’s largest single amount ever closed in the United States.

Of the hundreds of closures announced by Walmart on Friday, 154 are in the US, including the smallest format stores known as Walmart Express, of which 102 will be closed.

Nick said Express stores typically employ about 15 associates and the company will work to transfer as many associates possible to surrounding stores.

He further added: “The decision to close stores is hard and we care about the associates who will be impacted”.

Internationally, Walmart is closing 115 stores, including 60 in Brazil.

Yarborough questioned the discounter’s renewed focus on its Superstore format, and plans for more stores openings, at a time when online retailing is growing both for Walmart and in general.

Five Walmart Neighborhood Markets will also be closed: 2408 Lincoln Ave., Altadena; 6820 Eastern Ave., Bell Gardens; 701 W. Cesar E. Chavez Ave., Chinatown; 12120 Carson St., Hawaiian Gardens; and 2045 Highland Ave., San Bernardino.

Among store closings in Northern California are locations in Oakland and San Jose.

The company said their objective is to help their associates find another job. “So we are committed to growing, but we are being disciplined about it”, wrote Doug McMillon, president and CEO of Wal-Mart Stores, Inc.

The decision is expected to influence over 16,000 employees, with an estimated 10,000 in the US.

Also covered in the closures are 23 Neighborhood Markets, 12 supercenters, seven stores in Puerto Rico, six discount stores and four Sam’s Clubs.

“It’s good to see that management is willing to close stores because in the past we haven’t had that”, Brian Yarbrough, consumer analyst for Edward Jones, told the Wall Street Journal.

The actions are part of a company review of the almost 11,600 stores worldwide that began in October “to ensure assets were aligned with strategy”. Outside the U.S., Wal-Mart plans to open 200 to 240 stores.