INITIAL REPORT:
Walmart announced today it is closing 269 stores worldwide, including 154 stores in the United States, according to The Associated Press.
Of the 154 stores in the U.S., 102 of them will be the company’s smallest-format stores called Walmart Express, which were opened as a test in 2011, the AP reports.
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 store closures will start at the end of the month.
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, according to the AP.
More than 95 percent of the stores set to be closed in the U.S. are within 10 miles of another Walmart. The Bentonville, Ark., company said it is working to ensure that workers are placed in nearby locations, the AP reports.
Walmart operates 4,500 stores in the U.S. Its global workforce is 2.2 million — 1.4 million in the U.S. alone.
The retailer also is closing 60 loss-making locations in Brazil. The remaining 55 stores are spread elsewhere in Latin America.
About the Author