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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

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 ...


TOPICS: Business/Economy; News/Current Events; US: Arkansas
KEYWORDS: bhoeconomy; layoffs; retail; walmart
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To: kristinn

ANd if they stopped taking EBT Cards, most of the resat would close also.


21 posted on 01/15/2016 6:38:03 AM PST by eyeamok
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To: aomagrat
Walmart is going the way of Woolworth, Sears & Kmart before it. I expect another retailer will someday overtake it as #1.

Meijer.

22 posted on 01/15/2016 6:38:19 AM PST by mountn man (The Pleasure You Get From Life, Is Equal To The Attitude You Put Into It)
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To: RummyChick
You may like the low price of gas, but that has huge ramifications for the US economy - in a bad way.

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?

23 posted on 01/15/2016 6:38:21 AM PST by grania
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To: kristinn

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


24 posted on 01/15/2016 6:38:22 AM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: scooby321
You lay down with Obama and you might get fleas AIDS
25 posted on 01/15/2016 6:39:29 AM PST by mountn man (The Pleasure You Get From Life, Is Equal To The Attitude You Put Into It)
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To: kristinn

Obamaeconomy.


26 posted on 01/15/2016 6:39:30 AM PST by KC_Conspirator
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To: Gaffer

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).


27 posted on 01/15/2016 6:41:33 AM PST by ImJustAnotherOkie
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To: kristinn

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.


28 posted on 01/15/2016 6:42:32 AM PST by The KG9 Kid
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To: kristinn

But the ones left will be making more money....won’t they?


29 posted on 01/15/2016 6:42:41 AM PST by HomerBohn (Liberals and slinkies: they're good for nothing, but you smile as you shove them down the stairs.)
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To: jsanders2001

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.


30 posted on 01/15/2016 6:43:27 AM PST by Original Lurker
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To: kristinn

Maybe those laid off can get jobs in the manufacturing sector. /sarc


31 posted on 01/15/2016 6:46:53 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: kristinn

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...


32 posted on 01/15/2016 6:48:07 AM PST by LostInBayport (When there are more people riding in the cart than there are pulling it, the cart stops moving...)
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To: kristinn

Gee, I hope they won’t close the one near me.

Where will I go to “people watch?”


33 posted on 01/15/2016 6:48:36 AM PST by Catmom (We're all gonna get the punishment only some of us deserve.)
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To: kristinn

Anybody with a half a brain saw this coming when Walmart joined the “living wage” brigade.


34 posted on 01/15/2016 6:48:39 AM PST by E. Pluribus Unum ("The goal of socialism is communism." -- Vladimir Lenin)
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To: DAC21
> 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.

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.

35 posted on 01/15/2016 6:49:13 AM PST by jsanders2001
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To: stylin19a

2 words.

Food.

Deserts.


36 posted on 01/15/2016 6:49:21 AM PST by Quality_Not_Quantity (Democrat Drinking Game - Every time they mention a new social program, chug someone else's beer.)
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To: Original Lurker
I'd agree on the downtown if Federal tax laws and business regulations don't change starting in 2017. If we get a Republican into the White House, expect MASSIVE changes to the tax code and the phasing out of many unneeded/obsolete business regulations, which will free up trillions of dollars per year for more productive purposes.
37 posted on 01/15/2016 6:49:43 AM PST by RayChuang88 (FairTax: America's Economic Cure)
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To: ImJustAnotherOkie

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.]


38 posted on 01/15/2016 6:49:56 AM PST by Gaffer
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To: mountn man; cripplecreek

The Dutch-reformed cabal from Grand Rapids!


39 posted on 01/15/2016 6:52:23 AM PST by Cletus.D.Yokel (Catastrophic Anthropogenic Climate Alterations: The acronym defines the science.)
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To: SeaHawkFan

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!!


40 posted on 01/15/2016 6:53:11 AM PST by 9422WMR ("Ignorance can be cured by education, but stupidity is forever.")
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