Is Walmart in trouble?

88m3

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Nearly Everything at These Walmart Stores Is Now 50% Off
4:25 PM ET

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Mark Ralston—AFP/Getty ImagesA Walmart store is seen on January 16, 2016 in Chinatown, Los Angeles, one of seven Walmart stores in Southern California and 269 stores across the globe that will close down due to company restructuring.
Going-out-of-business sales at 100+ stores.


Last week, Walmart dropped a bombshell on the retail world with the announcement it was closing 269 stores worldwide, including 154 in the U.S. The vast majority being shuttered in the U.S. areWalmart Express stores—the company’s tiniest retail locations, which ultimately proved unprofitable for the big box-focused giant.

Walmart isn’t wasting any time in shutting the stores down. The full list of where and when stores are being closed can be found here, and it shows that the vast majority will close their doors on Thursday, Jan. 28.

Before they close for good, however, Walmart is doing its darnedest to clear out as much merchandise as possible. Stores launched across-the-board25% discounts right away, and now, with less than one week to go they’ve upped the ante to 50% off nearly everything still left in stores.

The company recently confirmed to the Consumerist that shoppers can indeed get 50% off at doomed stores closing on Jan. 28. A few locations, not set to close until Feb. 5, might not have resorted to 50% off just yet. Also, take note that a few categories of goods—notably, gas and guns—won’t be sold at clearance levels. But pretty much anything else under the store’s roof can be had for at least half off the original price.

Finally, don’t be surprised if the discounts go even deeper than 50% as the looming Jan. 28 closure date gets closer. Even better bargains are likely to pop up by Tuesday or Wednesday, though by then the pickings may be especially slim.


Nearly Everything at These Walmart Stores Is Now 50% Off


Welp?
 

88m3

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This Is What It Looks Like When Walmart Tries To Get Its Mojo Back

Walmart’s decision on Friday to close 269 stores worldwide, 154 of them in the U.S., is bigger news than a routine announcement of modest cuts by a global mega-business. The retail behemoth has never before done a sweeping closure of U.S. stores that weren’t successful. In fact, in Walmart’s 52-year history in the US, as far as can be determined, the company has only closed one store (in Connecticut) because it wasn’t doing enough business. Walmart routinely closes existing stores—but only in order to relocate them a half-mile away, typically at double the size of the abandoned store.


well laid out article
 

Entrapta310

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honest truth i didnt know walmart existed until i was maybe in my late teens. the closest one was an hour drive.
if they were booming in the 90's and had clout even before they really started building more buildings, trust closing 267 wont matter.
they are a conglomerate. walmart isnt bowing out any time soon
 

88m3

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Wal-Mart: It Came, It Conquered, Now It's Packing Up and Leaving

Shannon Pettypiece spettypi
January 25, 2016 — 5:00 AM EST





  • Some towns left without grocery store after Wal-Mart departure
  • Company announced plans to shut down 154 stores this month

The Town’n Country grocery in Oriental, North Carolina, a local fixture for 44 years, closed its doors in October after a Wal-Mart store opened for business. Now, three months later -- and less than two years after Wal-Mart arrived -- the retail giant is pulling up stakes, leaving the community with no grocery store and no pharmacy.

Though mom-and-pop stores have steadily disappeared across the American landscape over the past three decades as the mega chain methodically expanded, there was at least always a Wal-Mart left behind to replace them. Now the Wal-Marts are disappearing, too.

“I was devastated when I found out. We had a pharmacy and a perfectly satisfactory grocery store. Maybe Wal-Mart sold apples for a nickel less,” said Barb Venturi, mayor pro tem for Oriental, with a population of about 900. “If you take into account what no longer having a grocery store does to property values here, it is a significant impact for us.”


Oriental is hardly alone. Wal-Mart Stores Inc. said on Jan. 15 it would be closing all 102 of its smaller Express stores, many in isolated towns, to focus on its supercenters and mid-sized Neighborhood Markets. The move, which will begin by the end of the month, was a relatively quick about-face. As recently as 2014, Wal-Mart was touting the solid performance of its smaller stores and announced plans to open an additional 90.

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That’s a big problem for small towns, often with proportionately large elderly populations. For the older folks of Oriental -- a retirement and summer vacation town along the Intracoastal Waterway -- the next-nearest grocery and pharmacy is a 50-minute round-trip drive.

Wal-Mart says it is sensitive to the dislocations its business decisions are causing.

“In towns impacted by store closures, we have had hundreds of conversations with elected officials and community leaders to discuss relevant issues and we are working with communities on how we can be helpful,” said Wal-Mart spokesman Brian Nick.


Wal-Mart has been under increasing pressure lately as sales in the U.S. have failed to keep up with rising labor costs. It’s also been spending more on its Web operations. In October, the company announced that profit this year would be down as much as 12 percent. The outlook contributed to a share decline of 29 percent during the past 12 months.

“It is more important now than ever to review our portfolio and close the stores and clubs that should be closed,” Wal-Mart’s Chief Executive Officer Doug McMillon said in a statement on the company’s website.

Shuttered Stores
Towns like Clearwater, Kansas, and Merkel, Texas, are among those hit by Wal-Mart closures. In Godley, Texas, with a population of roughly 1,000, Wal-Mart opened a small store just a year ago. Within months, the only other grocery store in town -- Brookshire Brothers, part of an employee-owned regional chain -- shut its doors. Now with Wal-Mart gone, the closest full-service grocery store is about a 20-minute drive away.

In some cases, closed businesses may reopen now that Wal-Mart has left. In Merkel, the Lawrence Brothers grocery store, which closed two months ago, is planning to reopen now that Wal-Mart is packing up, said Jay Lawrence, head of the regional chain in Texas and New Mexico.

Residents of Oriental, where some city officials originally tried to block Wal-Mart from opening, are hoping for a similar outcome now that the megastore is gone. But for the moment the damage has been done, they say.

Renee Ireland Smith, who ran Town’n Country, said the store immediately saw sales fall by 30 percent once Wal-Mart opened in May 2014. Whenever her store cut prices, Wal-Mart would reduce its prices even more. Smith’s mother, who owned the store, invested $100,000 in savings into the doomed effort. But by October, the family decided to cut its losses and close the business.

“They ruined our lives,” said Smith of Wal-Mart. “They came in here with their experiment and ruined us.”


Wal-Mart: It Came, It Conquered, Now It's Packing Up and Leaving


why I can't stand this company
 

NERO

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Good. Now small grocers can take up the slack. If there is a demand then small business loans will become available for those inclined to serve their local communities. fukk MNC profit margins and fukk WALMART..
 

duckbutta

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To be expected...

Walmart, no any other brick and mortar store can compete with the likes of amazon...

Almost everyone i know...if they have to choose between ordering something off amazon and waiting 3 days for it to be delivered or going to the wal mart 10 minutes away to get it right now...would rather wait the 3 days...
 
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Occulonimbus edoequus
Wal-Mart ain't going nowhere, they are trimming the underperforming stores. Those MFs are building even more stores.

Business as usual. I'm surprised that they just didn't fukk over their employee's benefits even more.
 

CHL

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Good. Now small grocers can take up the slack. If there is a demand then small business loans will become available for those inclined to serve their local communities. fukk MNC profit margins and fukk WALMART..
:dj2:
 
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