The CEO of Walmart, Doug McMillon, announced earlier this month that they will be closing the doors at half their stores as of February 2018. The discount retail chain has been going down hill due to much competition and not being able to purchase the Family Dollar brand in early 2016.
They will be starting with international stores, followed by Texas and New Mexico.
An alternative option is to sell or franchise out many stores.
For those of you quoting "Carter Cast", he was actually a nobody at Walmart corporate. He left in 2007, so how could he even have any sense of what is going on or what is good for walmart. Nobody at Bentonville corporate even heard of him when he was there. Lived in California and wasn't included in any decision making. CNBC just needed someone to say something about walmart since they never have a comment.
Anyone know why he left his job as walmart.com ceo???
Sure, stores that are failing will close. Some stores will be relocated. Some will be remodeled. It's a never ending cycle. There will be some new stores. That's all. Nothing to see here, folks. Move on.
Unlike some retailers, store closures will be a marker of strength for Walmart, according to former Walmart.com CEO Carter Cast.
"I think there are store closures ahead of Walmart that are going to be good for the company and good for shareholders," Cast said on CNBC's "Power Lunch."
Cast, who worked with Walmart from 2000 to 2007, applauded Walmart's efforts to adapt to online commerce, in a time of change for retail.
Folks, the original poster (@R7W6IKS) is an internet troll who went to the trouble of posting a fake article on a prank website. It's a fake. Don't feed the trolls, and quit responding to him/her. Thanks!
This is the link to the fake article on the prank website, you can clearly see it is marked as a prank site:
https://channel45news.com/2017/06/wal-mart-closing-many-stores-in-early-2018/
LOL. There are less than 10 stores closing, they mostly old Div 1 stores. Nice try though.
LIAR !!!!
Not likely, they are way to greedy to do something like that...They have an agenda for 2018 and that is to take down Amazon. Hahahahaha, they should have stuck t taking care of their core customer.
Please post a link to this press release. Otherwise I will deem this as lies.
This is absolutely false. We'll see some new formats at many stores and we'll see features that enable faster and enhanced grocery pickup. We'll see more kiosks and we'll see a better partnership between online and store shopping. We'll do some dramatic things in Fresh. But, with Amazon trying to make a play for more brick and mortar, you can bet we'll keep our presence.
“Fake news”.
Funny how “news” like that isn’t public.