rooster59 Posted January 16, 2016 Share Posted January 16, 2016 Wal-Mart to shutter 269 stores, 154 of them in the USANNE D'INNOCENZIO, AP Retail WriterNEW YORK (AP) — Wal-Mart is doing some rare pruning.The world's largest retailer is closing 269 stores, including 154 in the U.S. that includes all of its locations under its smallest-format concept store called Wal-Mart Express. The other big chunk is in its challenging Brazilian market.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. Wal-Mart Stores Inc. said the store closures will affect 16,000 workers, 10,000 of them in the U.S. Its global workforce is 2.2 million, 1.4 million in the U.S. alone.The store closures will start at the end of the month.The announcement comes three months after Wal-Mart Stores Inc. CEO Doug McMillon told investors that the world's largest retailer would review its fleet of stores with the goal of becoming more nimble in the face of increased competition from all fronts, including from online rival Amazon.com."Actively managing our portfolio of assets is essential to maintaining a healthy business," McMillon said in a statement. "Closing stores is never an easy decision. But it is necessary to keep the company strong and positioned for the future."Michael Exstein, an analyst at Credit Suisse, described the moves as "baby steps" in his report published Friday, but he believes they are positive ones. He noted that this is the first mass closing that Wal-Mart has announced in at least two decades."It is a sign that Wal-Mart has begun the process of dealing with unproductive locations in a much more tangible and coherent way," he wrote. "But we continue to believe that Wal-Mart needs a much larger restructuring of its store base in order to narrow its focus as it seeks to improve its sales and returns, especially internationally."Wal-Mart has seen sales perk up for a key revenue measure for the last few quarters in its U.S. business. But it warned last October 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 in the stores. The company has been building bigger fulfillment centers devoted to e-commerce orders and expanding online services.Of the 154 store closures in the U.S., 102 of them are under the Wal-Mart Express name, which were opened as a test in 2011. The company operates more than 5,000 stores overall in the U.S.Wal-Mart Express marked the retailer's first entry into the convenience store arena. The stores, which sold essentials like toothpaste, were meant to be a solution to the threat of the fast-growing dollar stores. Wal-Mart Express intended to be a two-pronged strategy: stores in small towns that aren't big enough to support a full-size Wal-Mart and stores in big cities where building a supercenter was impractical. But the concept never caught on as the stores served the same purpose as Wal-Mart's larger Neighborhood Markets: fill-in trips and prescription pickups.Also covered in the closures are 23 Neighborhood Markets, 12 supercenters, seven stores in Puerto Rico, six discount stores and four Sam's Clubs.More than 95 percent of the stores set to be closed in the U.S. are within 10 miles of another Wal-Mart. The Bentonville, Arkansas, company said it is working to ensure that workers are placed in nearby locations.Wal-Mart will now focus in the U.S. on supercenters, Neighborhood Markets, the e-commerce business and pickup services for shoppers.The retailer said it also closed 60 loss-making locations in Brazil, which accounts for 5 percent of sales in that market. Wal-Mart, which operated 558 stores in Brazil before the closures, has struggled as the economy there has soured. Its Every Day Low price strategy has also not been able to break against heavy promotions from key rivals.The remaining 55 stores are spread elsewhere in Latin America.Wal-Mart 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 share from continuing operations, with about 19 cents to 20 cents expected to affect the current fourth quarter. The company is scheduled to release fourth-quarter and full-year results on Feb. 18.In a separate move, Wal-Mart said that it's merging its Arkansas-based team that creates technology for its stores with its Silicon Valley team that does the same for e-commerce. The move is expected to help Wal-Mart create a more seamless shopping experience for customers who are jumping back and forth between stores and their mobile phones.Shares of Wal-Mart Stores Inc. fell $1.13, or 1.8 percent, to close at $61.93 amid a broad market sell-off. -- (c) Associated Press 2016-01-16 Link to comment Share on other sites More sharing options...
puukao Posted January 16, 2016 Share Posted January 16, 2016 There goes the family vacation plans!!!! And my $3 lb of crabs that seemed to taste like bamboo My grandfather will lose his greeter job!!! If they could cut everyone's pay to 45 cents an hour and keep the stores open, they would!!! WMT......SELL!!!!! Link to comment Share on other sites More sharing options...
trogers Posted January 16, 2016 Share Posted January 16, 2016 Ahhh... The signs of economic recovery the US government has so proudly proclaimed... Link to comment Share on other sites More sharing options...
neverdie Posted January 16, 2016 Share Posted January 16, 2016 Where will all the trailer trash gather on hot days? Link to comment Share on other sites More sharing options...
NeverSure Posted January 16, 2016 Share Posted January 16, 2016 The OP repeatedly mentioned online sales. They truly do need to work on that as their site is very cumbersome and their shipping is slow. The certainly have the inventory to compete. They have a ton of room to grow in that area, and without ever opening a store. IMHO the in store experience is very good. Link to comment Share on other sites More sharing options...
Ace of Pop Posted January 16, 2016 Share Posted January 16, 2016 Where will all the trailer trash gather on hot days?Soi 6..[emoji482] Link to comment Share on other sites More sharing options...
onetime Posted January 16, 2016 Share Posted January 16, 2016 As soon as I saw the headline I knew it was in part due to Amazon and their plans for deliver of goods by use of drones. The future of delivery.... https://youtu.be/i2kHa9Z5mKY Link to comment Share on other sites More sharing options...
Nomyai Posted January 16, 2016 Share Posted January 16, 2016 Ahhh... The signs of economic recovery the US government has so proudly proclaimed... Didnt wall mart sign up for increasing the minimum wage................lol. Link to comment Share on other sites More sharing options...
Nomyai Posted January 16, 2016 Share Posted January 16, 2016 (edited) The OP repeatedly mentioned online sales. They truly do need to work on that as their site is very cumbersome and their shipping is slow. The certainly have the inventory to compete. They have a ton of room to grow in that area, and without ever opening a store. IMHO the in store experience is very good. the stores i go to got no employees. As opposed to thai stores -they got lots of employees but they no help at all. Edited January 16, 2016 by Nomyai Link to comment Share on other sites More sharing options...
Srikcir Posted January 16, 2016 Share Posted January 16, 2016 We might be seeing express type stores (ie., Tesco and CP) in metropolitan Thai areas closing as well if the economy remains stagnant through 2016. Link to comment Share on other sites More sharing options...
bangkapi Posted January 16, 2016 Share Posted January 16, 2016 Obama lied? OMG!! That's a first! Link to comment Share on other sites More sharing options...
mgjackson69 Posted January 16, 2016 Share Posted January 16, 2016 Ahhh... The signs of economic recovery the US government has so proudly proclaimed... Why would anyone crow about the US having economic problems? The largest economy in the world affects all others. Link to comment Share on other sites More sharing options...
otherstuff1957 Posted January 16, 2016 Share Posted January 16, 2016 When Walmarts move in to town, they absolutely devastate the local SMEs, effectively turning small business owners into lower-paid employees. Hopefully some local businesses will benefit from the removal of these Walmarts from their community. Link to comment Share on other sites More sharing options...
trogers Posted January 16, 2016 Share Posted January 16, 2016 Ahhh... The signs of economic recovery the US government has so proudly proclaimed...Why would anyone crow about the US having economic problems?The largest economy in the world affects all others. Facts are facts, whether one crows or shut their gaps... But knowledge precedes planning. Link to comment Share on other sites More sharing options...
Guitar God Posted January 16, 2016 Share Posted January 16, 2016 What about the 20 or so stores that suddenly closed a few months ago for emergency " plumbing" repairs? Haven't heard anything about them lately. Link to comment Share on other sites More sharing options...
Pimay1 Posted January 16, 2016 Share Posted January 16, 2016 There goes the family vacation plans!!!! And my $3 lb of crabs that seemed to taste like bamboo My grandfather will lose his greeter job!!! If they could cut everyone's pay to 45 cents an hour and keep the stores open, they would!!! WMT......SELL!!!!! There goes "people of Wal-Mart photos. Link to comment Share on other sites More sharing options...
Jingthing Posted January 16, 2016 Share Posted January 16, 2016 I love the myth of the Walmart greeter jobs. Starving elders? They can always be a greeter at Walmart! How many millions of impoverished U.S. elders vs. Walmarts ... and now less. Link to comment Share on other sites More sharing options...
mgjackson69 Posted January 16, 2016 Share Posted January 16, 2016 What about the 20 or so stores that suddenly closed a few months ago for emergency " plumbing" repairs? Haven't heard anything about them lately. Those are the Walmarts that are being converted to FEMA prison camps, for when Obama declares martial law. Link to comment Share on other sites More sharing options...
SouthernMan3 Posted January 16, 2016 Share Posted January 16, 2016 Where will all the trailer trash gather on hot days? Guess they'll have to move up to Target..... Link to comment Share on other sites More sharing options...
SouthernMan3 Posted January 16, 2016 Share Posted January 16, 2016 Ahhh... The signs of economic recovery the US government has so proudly proclaimed... Didnt wall mart sign up for increasing the minimum wage................lol. There is no "sign up". It's required ! Link to comment Share on other sites More sharing options...
mgjackson69 Posted January 16, 2016 Share Posted January 16, 2016 Ahhh... The signs of economic recovery the US government has so proudly proclaimed...Why would anyone crow about the US having economic problems?The largest economy in the world affects all others. Facts are facts, whether one crows or shut their gaps... But knowledge precedes planning. Whose facts? If you listen strictly to the current US administration, all is hunky-dory, the best recovery ever, brah brah brah. I understand basic economics concepts, and manage my own quite well...but I am no economist by any stretch of the imagination. My trusted source is Professor Ernie Goss at Creighton University, Omaha, Nebraska USA. He is non-partisan and seems to be pretty accurate most of the time. His take on the current "recovery" is that it, while a recovery, it is very lackluster, and is not showing the proportionate manufacturing increases and employment that past recoveries have shown. So, while we do not disagree on the magnitude or success of the US economic recovery, my questions still stands: Why would on be happy about the world's largest economy experiencing problems? Link to comment Share on other sites More sharing options...
elgordo38 Posted January 16, 2016 Share Posted January 16, 2016 Ahhh... The signs of economic recovery the US government has so proudly proclaimed... Yes the rubber numbers they hurl around just never stop bouncing. Wait till China announces their GDP on Monday. Mr. Xi is already spouting out 7% what a joker does he really believe the world will swallow this. Savvy investors are onto his game. Again investors who rushed into China to invest deserve to get burnt. Stupidity of the highest order. Follow the Pied Piper of China. Link to comment Share on other sites More sharing options...
elgordo38 Posted January 16, 2016 Share Posted January 16, 2016 We might be seeing express type stores (ie., Tesco and CP) in metropolitan Thai areas closing as well if the economy remains stagnant through 2016. I watched one CP store it did not last 6 months. That was 2 years ago. Link to comment Share on other sites More sharing options...
Don Mega Posted January 16, 2016 Share Posted January 16, 2016 Everyones desire to buy goods cheaper has them buying online... it is the death of bricks and mortar businesses. Link to comment Share on other sites More sharing options...
ggt Posted January 16, 2016 Share Posted January 16, 2016 I love the myth of the Walmart greeter jobs. Starving elders? They can always be a greeter at Walmart! How many millions of impoverished U.S. elders vs. Walmarts ... and now less. Actually, the greeter of the Walmart where I lived was a young man confined to a wheel-chair...Thanks Walmart for helping to support the handicapped... Link to comment Share on other sites More sharing options...
NickJ Posted January 16, 2016 Share Posted January 16, 2016 I do like those e-mails that go around featuring the best of the Wallmart shoppers......... Link to comment Share on other sites More sharing options...
pacovl46 Posted January 16, 2016 Share Posted January 16, 2016 Hopefully it's the beginning of the end for Wal-Mart! There's an interesting book called the Wal-Mart Effect. It's a real eye-opener! After reading it I decided to never set foot into another Wal-Mart ever again. Link to comment Share on other sites More sharing options...
Scott Posted January 17, 2016 Share Posted January 17, 2016 Off-topic post removed. The topic is about Wal-Mart stores closing. Link to comment Share on other sites More sharing options...
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