Last I knew Wally had arounder a 3% profit margin. To them sucking off the government teat makes sense because, until Trump anyway, government-induced misery is a growth sector.
It is, but it requires a paying population/funding source; American cities today demonstrate what happens when that also disappears. Neighborhoods look like Mogadishu, where nothing is maintained or fixed; not an ideal environment for operating a business. In the end, they turn on their businesses when their working (taxpaying) class has fled, and suck them dry paying for everything for the gibsmedats.
It is happening statewide here in NJ; every Welfarian (native or imported) climbing on the wagon chases away another American pulling it.