Posted on 01/15/2016 6:25:32 AM PST by 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.
(Excerpt) Read more at cnbc.com ...
ANd if they stopped taking EBT Cards, most of the resat would close also.
Meijer.
It isn't just the US economy without those jobs and related that were one of the very few ways US workers could enter the middle class. What about developing nations all over the globe? It isn't just about Russia being challenged economically; they can be self-sufficient, they'll survive. It's those countries that can't control radical movements now. What happens when the job and economic situations get even worse?
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.
...
I recall a story about the wonderful PR government taxing away all their profits.
Here it is:
http://www.freerepublic.com/focus/news/3368732/posts
Obamaeconomy.
What’s a company to do? They can’t print money or raise taxes, so they have to sell at a ugghhh profit (dirty word alert).
These aren’t going to be Walmart Supercenters that are closing, typically.
That said, I hope they close the one nearest me. Not with my luck though.
But the ones left will be making more money....won’t they?
I completely agree.
It’s my understanding presidential elections have a seven year lag-time with the affect on the economy.
If that’s correct, then we’re at the beginning of a very serious downturn in the US economy.
Maybe those laid off can get jobs in the manufacturing sector. /sarc
This on the heels of Sears announcing another round of store closings and the announcement that overall retail sales went down last month. In December.
Sum Ting Wong...Wi Tu Low...
Gee, I hope they won’t close the one near me.
Where will I go to “people watch?”
Anybody with a half a brain saw this coming when Walmart joined the “living wage” brigade.
I was talking with a business owner I met the other day who had run a very successful commercial construction business pre-Obama. He said that he had gone to many of his old clients looking for work and several said that they would probably have business for him again...but not until after Obama was out of office. The poor guy lost his marriage, his business, and almost his sanity. I can really identify with the guy with the exception of the marriage and I've spoken to so many other business owners who have said just about the same thing in the last few years. O is anti-business without question.
2 words.
Food.
Deserts.
Expect articles from papers serving urban denizens.....”Urban EBT’ers hardest hit by WalMart Insensitivity”....
[I read once that WM’s grocery bidness from EBT (SNAP and WICS - near 40% in some locations) users is HUGE.]
The Dutch-reformed cabal from Grand Rapids!
Here in the DFW market, the big retailers of furniture and appliances are having a big push to discount and move excess inventory. The Christmas season was a bust.
Great economy, look at your 401k, if you still have one.
Quick, more immigrants. Thats the solution!!
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