Walmart to close 269 stores in Americas
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Walmart, the world’s largest retailer – and one of the biggest suppliers of fishing tackle in North America – is closing 269 stores.
The biggest casualty is the US where 154 are being axed including 102 Walmart Express outlets, 23 Neighbourhood Markets and 12 superstores. The rest of the casualties are in South America, notably Brazil, where 60 have been closed or are due to shut.
The closures follow a review, started in October last year, of its estate of 11,600 outlets worldwide to ‘ensure assets were aligned with strategy’.
Doug McMillon, CEO of Walmart-Mart Stores Inc., said: “Actively managing our portfolio of assets is essential to maintaining a healthy business. Closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future. It is important to remember that we’ll open more than 300 stores around the world next year. So we are committed to growing, but we are being disciplined about it.”
A release announcing the move added that Walmart will focus on strengthening its Supercentres, optimising Neighbourhood Markets and growing e-Commerce sales.
Walmart has long operated sporting goods departments in many of its stores and includes equipment from the world’s best-known fishing tackle manufacturers.