Wal-Mart to Close 269 Stores as It Retools Fleet (In US: 154 stores, 10,000 jobs lost)

CNBC ^ | Friday, January 15, 2016 | Krystina Gustafson and Courtney Reagan

[kristinn]

Wal-Mart said Friday it will close 269 stores across the globe, including 154 in the U.S. The world's largest retailer also will open as many as 405 stores globally in the coming fiscal year, as it shifts its focus toward Supercenters and Neighborhood Markets in profitable locations.

In all, 16,000 employees will be impacted by the store closings, about 10,000 of whom are in the U.S.

Also domestically, Wal-Mart will also close 23 Neighborhood Market stores, 12 Supercenters, seven stores in Puerto Rico, six discount centers and four Sam's Clubs.

[Gaffer]

Condemn WalMart as uncaring, greedy capitalist employee oppressors and then berate them for closing operations and putting employees out of work simply because they try to keep their operations profitable. Fie on them!

[stylin19a]

Wal-Mart ...shifts its focus toward Supercenters and Neighborhood Markets in profitable locations.

let me beat Jesse and Al...THAT'S RACIST.

[donozark]

The Obama economy is STRONG! He said so! Oh wait, let me check the balance in my IRA!

[Texas Eagle]

Somebody ping Walmart! Bernie Sanders has the answer. Pay their employees a "living wage".

[SJSAMPLE]

Yeah, but they were shitty jobs anyway.
Ask any liberal.

[Texicanus]

I thought Obama said the economy was booming. Maybe they see something he doesn’t.

[jsanders2001]

IMO this is a serious red flag about the state of the economy. Noticed gas at one station was down to $1.49 yesterday. Something is coming...

[G Larry]

And THAT is how you pay for giving everybody an across the board pay raise!

[RummyChick]

I think this is a HUGE red flag.

Btw, market tanking big this morning because of Oil. Gold up big.

Saudis are trying to bring the oil companies to their knees.

You may like the low price of gas but that has huge ramifications for the US economy - in a bad way.

[jsanders2001]

> The world's largest retailer also will open as many as 405 stores globally in the coming fiscal year, as it shifts its focus toward Supercenters and Neighborhood Markets in profitable locations.

I take it this means they won't be opening stores in New Orleans, Baltimore, or Ferguson?

[aomagrat]

Walmart is going the way of Woolworth, Sears & Kmart before it. I expect another retailer will someday overtake it as #1.

[SeaHawkFan]

Companies open and close locations all the time. No big deal.

[Blood of Tyrants]

Liberals thing Walmart is in business to provide jobs, not to make a profit for their shareholders.

[scooby321]

You lay down with Obama and you might get fleas

[Paladin2]

#BLM -> Creative Distruction

[Paladin2]

#BLM -> Creative Destruction

[DAC21]

“Something is coming...”

Heard on Fox business that there are still 14 million mortgages underwater. Over one trillion in auto loan debt, spending down in Dec. Yep, she could blow, if it has to happen I want it to happen sooner than later. Cement that POS Obamas legacy.

[mountn man]

Saudis are trying to bring the oil companies to their knees.

Saudis are having their own problems now.