Walmart revealed Tuesday that it will close four stores in Chicago, halving its number of locations in the area.
Employees in the affected stores are eligible to transfer to other Walmart locations, according to the retailer.
The decision to downsize came because of poor performance in the area, even after investments in these stores. Some of the strategies included building smaller locations, localizing product assortment, investing in the city, and upgrading the stores.
“Our Chicago stores have not been profitable since we opened the first one nearly 17 years ago–these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years,” said Walmart in a blog post. “The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to help keep them open and serving the community.”
The following four Chicago Walmart stores will close by Sunday, April 16:
• Chatham Supercenter, the Walmart Health center, and the Walmart Academy
• Kenwood Neighborhood Market
• Lakeview Neighborhood Market
• Little Village Neighborhood Market
“As we looked for solutions, it became even more clear that for these stores, there was nothing leaders could do to help get us to the point where they would be profitable,” said Walmart. Full Story
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