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Whether you shop there weekly or only when you're looking for something in particular, there's almost certainly a Walmart near you. With more than 5, 000 locations spread across the U.S., the retailer feels omnipresent. But that doesn't mean every Walmart is in it for the long haul: The big-box retailer has confirmed that it is closing stores in April. Read on to find out which locations Walmart is shuttering, and why.
Walmart has confirmed that it will soon shutter two separate stores across the U.S. One of these locations is in Louisville, Kentucky, according to the
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. This decision was not made lightly and was reached only after a thorough review process, Walmart spokesman Brian Little told the newspaper.
Reported. According to both newspapers, the two locations will be permanently shuttered on April 22. We are grateful to the customers who have given us the privilege of serving them at our Forest Park location, Walmart said in a statement to the
Our decision is based on several factors, including historic and current financial performance, and is in line with the threshold that guides our strategy to close underperforming locations, Little told the newspaper. The
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, the company said it will continue to operate 12 stores in the Cincinnati region following the Forest Park Closure. And Little told the
In total, we serve customers at 102 Walmart stores and Sam's Clubs across Kentucky. We remain committed to the state, he told the newspaper.ae0fcc31ae342fd3a1346ebb1f342fcb
Two store closures in Forest Park and Louisville do not appear to reflect any plans for major Walmart closures across the U.S. According to the
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These are never easy decisions, but actively managing our portfolio is essential to maintaining a healthy business, he told the newspaper. This is done on a case-by-case basis and only after a careful and thorough review.The COVID-19 pandemic was a death blow for many U.S. businesses despite the government providing generous stimulus. That coupled with inflation and a rise in thefts have resulted in retail giant Walmart shutting down some of its stores. With so many people relying on Walmart and its cheap prices, store closures have led many to question whether Walmart is going out of business.
Founded in 1962 by Sam Walton, Walmart is the biggest brick-and-mortar retailer worldwide. The company is credited with revolutionizing the retail industry with its everyday low price strategy. It runs 10, 500 stores across 24 countries, under a total of 46 banners. The company employs 2.3 million people globally, of which 1.6 million are in the U.S.
Although Walmart had to temporarily close some of its stores amid COVID-19 lockdowns, many of those weren't permanent. Since then, however, the company has decided to implement store closures in states like Kentucky, Ohio, and Oregon for varying reasons. Some Walmart locations shuttered in April 2022 with the company crediting performance issues as the reason.
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Sad news for Village of Malton today. Walmart announcing the closure of their Westwood Square location, hoping to serve clients through their Rexdale store just across the highway. Difficult for those who don’t drive and even those using transit. Many loyal customers unhappy.— Carolyn Parrish (@carolynhparrish) March 15, 2021
Then, in December 2022, Walmart CEO Doug McMillon warned that additional store closures might come if the retailer couldn’t overcome the rise in thefts. Sadly, the issue has persisted, and Walmart has closed all of its stores within Portland’s city limits.
Even in the Suburban areas around Portland, Walmart has had to lock up things like car batteries, spray paint, infant formula, MEN'S PJ PANTS, etc. The theft is ridiculous, & they can't do anything besides call a police force who don't have the man power to respond.— Mandilyn (@LilMizzBlugrazz) March 6, 2023
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In February 2023, KPTV reported that Walmart would shutter its locations at 1123 North Hayden Meadows Drive and 4200 Southeast 82nd Avenue at the Eastport Plaza on March 24, 2023.
The decision comes after the retailer acknowledged that the two stores weren't “meeting financial expectations.” Walmart said that it was working with current employees to get them moved to other locations and helping customers get their prescriptions transferred.
That said, Walmart has also been pivoting toward e-commerce, meaning it could be transitioning to a hybrid retail model. Gaming retailer GameStop has been making a similar transition, though more aggressively. Walmart may be taking a softer approach because its stores are a key part of its digital strategy, acting as fulfillment centers.
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In addition to its brick-and-mortar Walmart stores, the company runs several other businesses, including Sam’s Club in the U.S., Flipkart in India, and Massmart in Africa. To take on Amazon, Walmart started selling products online, and it's now the second-largest e-commerce company in the U.S.
In fiscal 2022 (ended January 2022), Walmart's online sales accounted for around 13 percent of its sales. The company’s sales grew by a strong double-digit percentage in 2020, boosted by the rise of e-commerce amid the COVID-19 pandemic.
U.S. retail e-commerce market share: 1) Amazon: 39% 2) Walmart: 5.8% 3) eBay: 4.9% 4) Apple: 3.5% 5) Home Depot: 2.1% 6) Best Buy: 2.0% 7) Target: 1.7% 8) Wayfair: 1.5% 9) Kroger: 1.4% 10) Costco: 1.4% Source: eMarketer— Jon Erlichman (@JonErlichman) October 18, 2020
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People across the nation rely heavily on Walmart for affordable food, household goods, and even automotive needs. Thankfully, Walmart isn't going out of business. However, it's making minor transitions in addition to closing stores. Walmart has also sold its majority stakes in Japanese supermarket chain Seiyu and British supermarket chain Asda. The company sold its Argentinian business to Grupo de Narváez, exited its business in Brazil, and discontinued e-commerce site Jet.com, for which it paid $3 billion in 2016.
In 2018 when Flipkart was acquired by Walmart valuing the company at $21 B, @AswathDamodaran called it World’s Most Expensive Facelift 3 years later and no closer to making profits anytime soon, its now valued at $37.60 B— Prashanth (@Prashanth_Krish) July 13, 2021
Those moves don't mean that Walmart is giving up on international business, though. In 2018, the company bought a majority stake in Indian e-commerce company Flipkart for $16 billion, marking its biggest acquisition ever.Twitter icon A stylized bird with an open mouth, tweeting. Twitter LinkedIn icon The word in. LinkedIn Fliboard icon A stylized letter F. Flipboard Facebook Icon The letter F. Facebook Email icon An envelope. It indicates the ability to send an email. Email Link icon An image of a chain link. It symobilizes a website link url. Copy Link
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The stores include Walmart Supercenters and Neighborhood Market stores in Arizona, California, Indiana, Kansas, Louisiana, Massachusetts, Minnesota, New Hampshire, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Washington.
Stores in Hanover, Massachusetts, and Norristown, Pennsylvania, are expected to close at the end of October. Stores in Cypress, Texas, and Norwalk, California, are expected to close November 1. Many of the remaining stores closed between April and July.
Walmart Neighborhood Markets are about one-fifth the size of a Walmart Supercenter, and they are typically found in areas that are more urban than locations for Supercenters. These stores focus primarily on selling groceries.
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Walmart said earlier this year that it planned to open fewer than 10 new stores over the next year. The company did not provide guidance on closings at the time.
FILE - This Oct. 26, 2016, file photo, shows prices in the toy section at Walmart in Teterboro, N.J. An escalating trade war with China could mean higher prices on a broad array of products from toys to clothing. But some retailers will feel more pain than others, further deepening the divide between the winners and the losers that was evident in the latest earnings reports. Analysts say big box giants like Walmart and Target, which have had strong performances, are best positioned to absorb the higher costs because of their clout with suppliers. (AP Photo/Julio Cortez, File) Associated Press
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