Walmart announced Friday it is closing 154 U.S. stores, according to a company press release, including the company’s 102 Walmart Express stores, the smallest format stores.
It is part of a global downsizing that will shutter 269 stores around the world out of Walmart's nearly 11,600 stores.
The smaller-format store format had been tested since 2011.
In addition to all the Express stores, 23 Neighborhood Markets, 12 Supercenters, seven stores in Puerto Rico, six discount centers and four Sam’s Clubs will be closed.
About 16,000 associates will be affected worldwide - roughly 10,000 of whom are in the U.S. - according to the company.
It said more than 95 percent of the closed stores in the U.S. are within 10 miles on average of another Walmart, so the hope is those associates can gain employment at nearby stores. In cases where that isn't available, transition assistance will be available, the company said.
“Actively managing our portfolio of assets is essential to maintaining a healthy business,” said Doug McMillon, president and CEO, Walmart Stores, Inc. “Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future. It’s important to remember that we’ll open well more than 300 stores around the world next year. So we are committed to growing, but we are being disciplined about it.”
Wal-Mart operates 4,500 in the U.S. Its global workforce is 2.2 million, 1.4 million in the U.S. alone.
Wal-Mart has warned that its earnings for the fiscal year starting next month will be down as much as 12 percent as it invests further in online operations and pours money into improving customers' experience.
Walmart said that it's still sticking to its plan announced last year to open 50 to 60 supercenters, 85 to 95 Neighborhood Markets and 7 to 10 Sam's Clubs in the U.S. during the fiscal year that begins Feb. 1. Outside the U.S., Wal-Mart plans to open 200 to 240 stores.
The financial impact of the closures is expected to be 20 cents to 22 cents per diluted earnings per share from continuing operations with about 19 cents to 20 cents expected to affect the current fourth quarter. The company is expected to release fourth quarter and full year results on Feb. 18.
Shares of Walmart Stores Inc. fell $1.64, or 2.6 percent, to $61.42 in midday trading amid a broad market selloff.
To see a map of each store closing on mobile, click here.
Walmart locations will close in the following cities, the majority by Jan. 28:
AL: Abbeville, Ashford, East Gurley, Fairfield, Grant, Headland, New Hope, Slocomb, Snead
AK: Juneau
AR: Charleston, Coal Hill, Damascus, Decatur, Gentry, Gravette, Mansfield, Maumelle, Mulberry, Prairie Grove, Van Buren
CA: Altadena, Bell Gardens, Hawaiian Gardens, Long Beach, Oakland, two Los Angeles locations, San Bernardino, San Jose
CO: Denver, Littleton
CT: West Hartford
FL: Cross City, Interlachen, Trenton
GA: Alma, Ashburn, Donalsonville, Ellaville, Lakeland, Pearson, Pelham
IL: Two Chicago locations
KS: Clearwater, Burlington, Columbus, Ellsworth, Rose Hill, Hillsboro, three Wichita locations
LA: Clinton, Colfax, Independence, Iowa, Kentwood, Lake Arthur, Mamou, Zwolle
MA: Fall River (Sam's Club), Seekonk (Sam's Club)
MD: Baltimore
MI: Hartland, Waterford (Sam's Club)
MO: Anderson, Clever, Noel, Seligman
MS: Belmont, Derma, Mantachie, Nettleton, Sardis, Walnut
NV: Las Vegas
NC: Ayden, Benson, Broadway, Carthage, Coats, Durham, Four Oaks, Liberty, Midway, Nettleton, Oriental, Pikeville, Red Springs, Richfield, Snow Hill, Stedman, Yanceyville
OH: Bedford
OK: Luther, Okemah, Prague, Stroud
OR: Lake Oswego, Portland
PR (Amigo): Carolina, Coamo, Rio Grande, Salinas, Toa Alta, Utuado, Villalba
RI: Warwick (Sam's Club)
SC: Winnsboro
TN: Nashville
TX: Anson, Austin, Bryan, Brownsville, Dekalb, Diana, Edgewood, Frankston, Frisco, Dallas (Greenville), Godley, Grandview, Haskell, Houston, Hughes Springs, Italy, Kemp, Leonard, Lone Star, Maud, Merkel, Naples, Palmer, Southlake, Waskom, Whitewright, Winters
WI: Menomonee Falls, Milwaukee, Waukesha, Wauwatosa
WV: Kimball
Source:
http://www.kltv.com/story/30975041/walmart-closing-154-us-locations?clienttype=generic&sf18940909=1
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