WALMART is one of the largest retailers in the world, but it hasn’t been able to get away with it during this period of high costs and low spend.
There’s no doubt that soaring inflation has made shoppers a bit more reluctant to spend.
Despite Walmart’s recent sales growth of 7.6 percent, the retailer is still having to scale back its operations.
In a press release, the retailer cited financial losses as the reason for closing four stores in Chicago last month and closing the last remaining store in Portland.
“The simplest explanation is that our Chicago stores overall have not been profitable since we opened the first one nearly 17 years ago — these stores are losing tens of millions of dollars each year, and their annual losses have nearly doubled in the last five years alone .” said the company.
The retailer plans to close more than 20 locations in 15 states and the District of Columbia.
COMPLETE LIST OF DEGREE
The following locations have either already closed or will close by the end of this year.
- 3701 SE Dodson Road, Bentonville
- 99 H Street NW, Washington
- 1801 Howell Mill Road NW, Atlanta
- 835 MLK Jr Drive NW, Atlanta
- 6900 US Highway 19 North, Pinellas Park
- 1032 Fort Street Mall, Honolulu
- 17550 South Halsted St, Homewood
- 12690 S. Route 59, Plainfield
- 840 N. McCormick Blvd., Lincolnwood (Pickup Only Concept)
- 1511 Camp Jackson Road, Cahokia
- 8431 S. Stewart Ave., Chicago
- 4720 S. Cottage Grove Ave., Chicago
- 2844 N. Broadway, Chicago
- 2551 W. Cermak Road, Chicago
- 3701 Portage Road, South Bend
- 1200 Shingle Creek Parkway, Brooklyn Center
- 301 San Mateo Blvd. SE, Albuquerque
- 4200 82nd Ave. SE, Portland
- 1123 N Hayden Meadows Drive, Portland
- 24919 Westheimer Parkway, Katy (Neighborhood Market Concept)
- 11400 Highway 99, Everett
Despite the closures, Walmart is still offering incredible deals, such as a $198 piece of furniture that’s “secretly” on sale for $49.
Also, check out the two-story tiny house that Walmart is selling for less than $10,000.