Walmart announces store closures for October

• Walmart to Close 11 Stores in the U.S.
• Inflation and Low Sales Impact Operations
• Customers Prefer Online Shopping

Walmart, one of the world’s largest supermarket chains, recently announced the closure of several stores in Mexico and the United States during October.

This news sparked widespread speculation among consumers and industry analysts, raising concerns about the future of the brand in the country.

In response to these growing worries, the company issued an official statement explaining the reasons behind its decision.

According to the statement, Walmart will close a total of 11 stores in the United States, many of which are frequently visited by Mexican citizens, especially in border areas.

Walmart to Close Stores in October

The stores set to close are located in San Diego, El Cajon, West Covina, Granite Bay, and Fremont, California; Columbus, Ohio; Towson, Maryland; Milwaukee, Wisconsin; Aurora, Colorado; and Dunwoody and Marietta, Georgia.

Kelsey Bohl, Walmart’s director of communications, explained that the closures are directly linked to the stores’ poor financial performance in recent years.

YOU MAY ALSO BE INTERESTED: Woman steals $40K from man after encounter in Las Vegas casino

Rising inflation, a decline in physical store sales, and the growing preference for online shopping were key factors in this decision.

Bohl also noted that consumer behavior has drastically shifted since the pandemic, with a rapid transition toward online shopping.

Walmart Announces Store Closures

Despite this trend, some physical stores experienced a resurgence after the pandemic, driven by customers’ desire to return to shopping malls.

However, the Walmart stores set to close were unable to capitalize on this rebound and instead saw a steady decline in performance.

According to a report by The Wall Street Journal, the retail vacancy rate decreased last year, while rents in shopping centers increased.

This reflects a recovery in some sectors of physical retail, but it was not enough to keep all Walmart stores open.

The announcement has also raised concerns among employees at the affected stores, who fear losing their jobs amid an uncertain economic environment.

Walmart has stated that it will provide support to affected employees, offering them the opportunity to be relocated to nearby stores.

Even so, many are left wondering if this is just the first step in a broader withdrawal of Walmart from certain markets, according to El Cronista.

TO LISTEN TO THE PODCAST OF THIS AND OTHER NEWS, CLICK ON THE PHOTO