Posted on 01/15/2016 3:22:04 PM PST by jeannineinsd
Wal-Mart Stores Inc. said Friday that it will close 269 of its stores globally, including 154 in the U.S., nine of them in California, as the company looks to reposition itself in a difficult retail climate.
The retailer does not necessarily appear to be shrinking its U.S. footprint, however. The retailer said that in the next year, it plans to open more than 140 new stores nationwide. Plans include opening or expanding nine stores in California.
Two Wal-Mart stores in Los Angeles -- one on Crenshaw Boulevard and one on West Cesar E. Chavez Avenue -- as well as one in Oakland will close to the public Sunday.
A Wal-Mart store in Long Beach and Wal-Mart Neighborhood Markets in Altadena, Bell Gardens, Hawaiian Gardens, San Bernardino and San Jose will shut Jan. 28. Work is to continue in these stores to remove fixtures and merchandise until Feb. 10. The closures include Wal-Mart and Sam's Club locations and will affect 16,000 employees globally, about 10,000 of whom are in the U.S. About 1,780 California employees will be affected, 1,040 in Los Angeles County.
The Bentonville, Ark., company said that more than 95% of the affected stores in the U.S. are within 10 miles of another of its stores, and that affected employees will receive priority for transfer opportunities to nearby stores.
The company said it would provide 60 days of pay if employees are unable to be transferred, and severance for those eligible.
"The decision to close stores is difficult and we care about the associates who will be impacted," Wal-Mart Chief Executive Doug McMillon said in a statement. "We invested considerable time assessing our stores and clubs and don't take this lightly."
(Excerpt) Read more at latimes.com ...
It looks like California is not part of the US
It is a funny headline, very California-centered.
I agree.
Former Walmart shoppers are now shopping at dollar stores where things like "bargain" cleaner brands are little more than water in containers painted to look like name brands.
I'm afraid you are correct.
Fuuny story. My son couldn’t understand why he couldn’t find an Amazon Gift Card at Walmart. (snicker)
Yeah, the national and local news keeps telling me the economy is great and wonderful.
Just like Barry Obama sez......
Obamacare?
ROTFLMAO ...... Great analogy Grace....:o) Fits perfect.
Brick and mortar stores are all in trouble. Macy’s is closing a number of stores too. Malls are dying. People don’t want to get dressed, drive to a store, maybe get mugged or shot, when they can order online from home in their jammies and have merchandise delivered, sometimes for free.
The Obama ârecoveryâ isn’t helping either. It’s been said that this past Christmas shopping season was dismal. Expect a lot more stores to close and long established chains to go out of business.
You nailed it.
Having said that, how could they possibly be closing stores because of a slow economy? Obama said in his SOTU that the economy was in excellent shape. Why would he deceive the public about that?
Wonder how many of the stores have been looted in the past?
I just came back from a Walmart, was on vacation out if the country, bought 5 items, and they still keep on refusing to check the bag carousel to see if you picked up all that were filled, a new movie was in one bag still and i left not knowing, makes my blood boil that i have to drive 26 more miles to go and get it.
H’mmmm, remake of “Freaks(1932)” doesn’t say much about where you live and the folks there. I keep wondering where these weird Walmarts that everyone talks about; I can’t remember ever visiting one that would meet those non-attributes.
Damn, the MSM said the downturn in the economy was because of the drop in the price of oil ... 269 Walmarts obviously couldn’t stay in the business of selling oil....the oil market must be more competitive than I thought .... Target and Kohls underselling them?
Interesting you used the word Walmart. I selected a more generic word... stores.
I think it’s interesting sometimes to go to the other threads and read the comments.
Often each thread has a totally different theme. Anyway I wasn’t fussing but offering
others the opt to read other postings. Take care.
Good luck with that. The person in line behind you just got a freebie.
Been there - done that.
My Walmart is safe. Whew! Incidentally, there’s a police station nearby all the Walmarts in my area. I see police presence in the parking lot all the time esp. after dark. No stores in PA are affected. I shop there a lot.
California dodged the bullet.
Over the last 50 years, that I know about, when anything has a nationwide impact, good or bad California accounts for 10% of the total in the U.S.
Seems to be less than that in this case.
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