RAPAPORT... Walmart plans to close a total of 269 stores in
the U.S. and globally following a review
of almost all of its outlets worldwide that took into account factors such as
financial results and strategic alignment with long-term plans.
The U.S. retailer will disengage
in 154 locations in the U.S., including its 102 smallest format stores, Walmart Express,
which it had been piloting since 2011, it said in a statement January 15. It
will shut down 23 Neighborhood Markets, 12 Supercenters, seven stores in Puerto
Rico, six discount centers, and four Sam’s Clubs. The group currently has
11,600 stores worldwide.
Walmart outlets facing closure
represent less than 1 percent of Walmart’s global square footage and revenue.
The departmental store chain, which announced a review of its store portfolio
in October, plans to strengthen its Supercenters, optimize Neighborhood
Markets, grow the e-commerce business and expand Pickup services for customers.
“Actively managing our portfolio of assets is essential
to maintaining a healthy business,” said Doug McMillon, Walmart’s president and
chief executive officer. “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.”
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