Walmart closes underperforming US stores

• Walmart will close several stores in the United States.
• The stores are not performing well enough.
• The closures will affect stores in five states.

Walmart closes stores. On Friday afternoon, Walmart, one of the largest retailers in the world, made a shocking announcement. Through a statement, the company reported that it is closing several low-performing stores in the United States.

It is considered «underperforming» when a location has not met its financial goals over a period of time. In this case, five states will be affected by closures of Walmart stores.

Walmart announces closure of underperforming stores

According to PIX 11, the popular chain will officially close seven stores in five states because these locations are on the «low performance» list and have not met financial goals.

In December, CEO Doug McMillon said Walmart may close stores and raise prices due to high rates of shoplifting, especially at the self-checkout area.

Walmart closes stores: Which states are affected?

The stores will close in three states. One store located in Albuquerque, New Mexico will be closed for underperforming.

Another location in Milwaukee, Wisconsin will also close permanently. Meanwhile in Chicago, Illinois, they will close three stores for failing to meet financial expectations.

Florida and Arkansas are also affected

Another store located in the Neighborhood Market in Pinellas Park, Florida will close on Friday, March 10. On the other hand, two locations have already closed.

Walmart stores in Lincolnwood, Illinios and Bentonville, Arkansas, which are «pickup only» stores, closed their doors on Friday, February 17.

Store employees may transfer to another Walmart location

Employees of the affected establishments will be able to transfer to other locations that are still operating. According to PIX 11, Walmart will apply what it has learned in the pickup locations and will apply this to delivery and pickup operations in other stores.

A Walmart spokesperson said: “We have nearly 5,000 stores across the U.S. and unfortunately some do not meet our financial expectations. While our underlying business is strong, these specific stores haven’t performed as well as we hoped.»