https://www.cleveland.com/business/2024/01/walmart-closing-2-more-stores-in-one-of-americas-largest-cities.html
3 replies (most recent on top)
no better way to make botton line look good than store closures. not to worry they can transfer.
Doug should have remodeled the stores. This transfer to other stores is another name for layoffs. Should have put AI at the doors like Doug is doing in some Sam's clubs. that would fit it. Give me "W".
BENTONVILLE, Ark. -- Walmart, the nation’s largest retailer, announced this week it will close two more stores based on poor performance.
Walmart notified employees at two San Diego, California, area stores on Wednesday that their stores will close Feb. 9.
“We are grateful to the customers who have given us the privilege of serving them at our San Diego and El Cajon stores,” Walmart Communications Director, Brian K. Little, said in an emailed statement cited by The San Diego Union Tribune. “We look forward to continuing to serve them at any of our many locations across the area, on walmart.com and through delivery to their home or business.”
Workers at the two stores – about 125 people in the San Diego store and another 232 in El Cajon — will be able to seek employment at other Walmart locations, the company said. Walmart currently has 27 stores, supercenters and markets in Greater San Diego, the Union Tribune said.
San Diego was the eight largest city in the United States based on 2022 population estimates by the U.S. Census Bureau.
Walmart has more than 4,600 locations in the United States, according to data company Scrape Hero. As of Jan. 8, California ranked third, with nearly 280 locations.
But the company in 2023 closed more than 20 locations, principally as it reacted to theft issue and lower-than-expected sales.
Walmart CEO Doug McMillon had warned entering 2023 that increases in theft, in particular, could force the retailer to either raise prices or close stores if the problem continued.
“Theft is an issue. It’s higher than what it has historically been,” he told CNBC’s “Squawk Box.” “If that’s not corrected over time, prices will be higher, and/or stores will close.”
Among the first to close the last two Walmart stores in Portland, Oregon, a city where police had run anti-shoplifting sweeps in business districts to battle retail theft.
Last spring Walmart closed four of its eight stores in Chicago citing losses of tens of millions of dollars a year in its Chicago stores.
The store closing in San Diego is a self-styled “neighborhood market” in an area where there are few supermarkets and likely will be missed in the community, NBC’s KNSD Channel 7 said.
The El Cajon store is in a shopping plaza that was struggling to draw customers, NBC 7 said.