Walmart to Close Multiple Stores in 2023 – See the Complete List Here
Walmart is closing a batch of its retail stores in the US this year. The retail giant cited poor store sales as causes of financial hiccups.
A few months ago, Walmart CEO Doug McMillon already warned of closure due to shoplifting losses. He confirmed that the uptick in theft is higher in its overall business history.
The company will stop its operations in five locations. Following a series of Walmart closures in the US every year, this year’s closures weren’t surprising. The retail giant said that the closing stores are “underperforming.”
Walmart closing three tech hubs, asking employees to relocatehttps://t.co/Op9I7rieQ2
— FOX Business (@FoxBusiness) February 14, 2023
Moreover, an Insider report said that the retail store is also shutting down its 9-year experiment of pick-up-only stores in Arkansas and Illinois.
A company spokesperson said that the retail chain plans to apply its learnings to other delivery and pick-up operations in other stores.
Stores in Albuquerque, New Mexico will close within a month while the store branch in Milwaukee, Wisconsin is preparing to close. A Walmart spokesperson said, “This decision was not made lightly and was reached only after a thorough review process.”
The spokesperson added, “We have nearly 5,000 stores across the U.S. and unfortunately some do not meet our financial expectations. While our underlying business is strong, these specific stores haven’t performed as well as we hoped.”
Walmart plans to close three stores in the Chicago area by mid-March. https://t.co/F6eStfyubw
— WGN TV News (@WGNNews) February 8, 2023
Here’s a full list of confirmed Walmart closures:
Florida:
- 6900 US Highway 19 North, Pinellas Park (Neighborhood Market concept)
Illinois:
- 17550 South Halsted St, Homewood
- 12690 S. Route 59, Plainfield
- 840 N. McCormick Blvd, Lincolnwood (Pick-up only concept)
Arkansas:
- 3701 SE Dodson Road, Bentonville (Pick-up only concept)
Wisconsin:
- 10330 W. Silver Spring Dr, Milwaukee
New Mexico:
- 301 San Mateo Blvd. SE, Albuquerque
Furthermore, one spokesperson cleared that the decision to close some stores “was based on a range of issues concerning financial performance.”
Walmart is just one of the business sectors that is reducing costs. Other tech giants such as Amazon, Microsoft, and Twitter had already cut losses by laying off employees.
For more interesting news and articles, check out Inquirer.net.
