Posted on 01/15/2016 7:40:28 AM PST by bryan999
NEW YORK (AP) -- Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market.
The stores being shuttered account for a fraction of the company's 11,000 stores worldwide and less than 1 percent of its global revenue.
More than 95 percent of the stores set to be closed in the U.S. are within 10 miles of another Wal-Mart. The Bentonville, Arkansas, company said it is working to ensure that workers are placed in nearby locations.
The store closures will start at the end of the month.
(Excerpt) Read more at hosted.ap.org ...
Nice to see raising wages worked so well for them.../s
The bitter fruit of that stupid wage increase? Maybe Walmart needs a new CEO.
Obama’s ‘Recovery’ is going gangbusters!!!!! Look at the BLS stats! We be sh!ttin’ in high cotton.
More shovel ready jobs—to be buried in a grave yard.
Fine with me as I never go there for groceries, etc. I prefer WINCO.
According to the story it has nothing to do with wages. The most of the stores in the U.S. they are closing are mini Wal Marts that could not compete with the regular size stores.
Can’t be Obama said in the SOTU that the economy is great.
Then this doesn't really sound like a big deal.
“mini Wal Marts that could not compete with the regular size stores.”
That’s BS. The prices are cheaper from my experience and why cant they simply say “well, the minimum wage sucked including us supporting faggot issues got us into this mess’
You read the story before commenting? Shame on you! That’s not the FR way.
Hope n’ Change Ping...
Closing the older, smaller stores that are close by Supercenters. Some of these older buildings have become functionally obsolete and inadequate, others are just excess saturation of the local markets.
Most will be recycled to other use, leased out to another supermarket or home supply store, the rest will be demolished and the underlying real estate put back on the market.
It’s just business. And as far as “minimum wage”, Wal-Mart understands perfectly well what productivity has to do with wage levels. Slackers do not last long in their employ.
Wal-Mart will shut down a store, rather than deal with the various retail clerks unions. Oh, the excuse will be a “plumbing problem”, or “Structural deficiencies”, but the store reopens immediately when the picketers finally give up.
Hunh, could those two things be related....
Good. I used to be a Walmart supporter (the unions drove me to that point) but that comment from the racist black female CEO of Sam’s Club about hating to deal with companies run by white males pushed me out of their doors for good. Walmart’s top executives rushed in to support her 100%. So it’s ok at Walmart and Sam’s Club to discriminate against the hated white male. So they can kiss this white males hind part as I exit for good.
ditto
THe small stores were intended to compete vs. the “Dollar Stores” who have won that battle, so it’s smart of Walmart to retreat and focus on what they do well.
Bml
There, fixed it!
And it is codified in law that the "evil white male" be discriminated against to eliminate discrimination with no recognition of irony allowed.
Yeah, my problems with Wal-Mart have been adding up for a while. Supporting Obamacare, pressuring the Ark governor to ditch that religious freedom bill, then the vile Sam’s Club CEO. Probably a few other things as well.
I think I went to Wal-Mart just once last year.
Wal-Mart Express marked the retailer's first entry into the convenience store arena. The stores are about 12,000 square feet and sell essentials like toothpaste. But the concept never caught on as the stores served the same purpose as Wal-Mart's larger Neighborhood Markets: fill-in trips and prescription pickups.
Also covered in the closures are 23 Neighborhood Markets, 12 supercenters, seven stores in Puerto Rico, six discount stores and four Sam's Clubs.
The sky isn't falling, they are closing 102 C-Stores out of 154 ...
Imagine being a big enough company to open 102 stores as a test concept... !!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.