Walmart, a major retail corporation, has declared its intent to shut down multiple locations in the US by 2023. This is an imperative step towards optimizing and refining operations while capitalizing on high-performance areas.
Walmart recently announced that it will be shutting down 43 stores, comprising 27 Supercenters, 4 Sam’s Clubs, and 12 Neighborhood Markets spread across the United States.
Committed to keeping up with ever-shifting buyer habits and fending off rivals like Amazon, Walmart has been pouring money into e-commerce and digital projects. As such, their decision to close stores comes as no surprise.
Walmart has been revamping its in-store experience, making investments in renovations and new technology to make shopping a more pleasurable and efficient process for customers. However, the company is aware that some of its stores are not generating as much profit as others; thus it makes practical sense to prioritize their most lucrative locations.
Making the difficult decision to close stores, Walmart strives to ensure that affected employees are treated with respect and given ample opportunity to be relocated elsewhere.
“We are committed to treating our associates with respect and dignity throughout this process,” the company said in a statement. “We will be offering eligible associates the opportunity to transfer to other Walmart locations, and we will be providing severance packages to those who are unable to find new roles within the company.”
A comprehensive list of stores slated to shut down has not been published yet, but some locations have already been identified. These include:
– Walmart Supercenter in Alaska, Arkansas, Connecticut, Louisiana, Massachusetts, Mississippi, New Jersey, Ohio, and Texas
– Sam’s Club in North Carolina, Pennsylvania, and Texas
– Neighborhood Market in California, Florida, Georgia, Indiana, Louisiana, North Carolina, Tennessee, and Texas
Throughout the year, Walmart will be gradually shutting down operations at numerous locations. Despite these closures, Walmart is dedicated to working closely with impacted communities in order to minimize any disruption or distress this may cause.
Walmart’s recent decision to close some stores is merely the most recent step in its effort to remain competitive in a fierce retail landscape. To stay ahead, they have been introducing new online grocery pick-up and delivery options, investing heavily in robotics technology, and taking advantage of strategic partnerships with other retailers and e-commerce companies which expands their reach even further.
While some communities and employees might feel the pinch in the short term, Walmart is confident that by making this move they will remain competitive and continue their growth trajectory over time.