Walmart warns against a year to come - will the closures follow?
The retailer had previously confirmed that seven locations stopped across the country.
As the largest retailer in the country, Walmart is a necessity for many of us. However, the large -scale retailer Recently announced its intention to close several stores and collect only locations, leaving many buyers concerned about where they will go for grocery store. Walmart has judged these stores "underperformants" - and despite a high holiday season, leaders are concerned about what global sales will look like for the rest of 2023. Read the rest to why Walmart warns a difficult year to come And if you can expect more store closings.
Read this then: These are all the walmart locations closing forever by March 10 .
Walmart is "prudent".
For a February 21 profit call , Walmart leaders discussed the price increase and the way it could affect the behavior of buyers and global activities.
"We find ourselves in a position similar to each of the last three years, where there is a lot of uncertainty on the scale of the year". John David Rainey , said the director and executive vice-president of Walmart. "Although supply chain problems have decreased, prices are always high and there is considerable pressure on the consumer."
During the last quarter, Walmart reported solid results from the holiday shopping season (thanks mainly to grocery sales) and an increase in sales of 8.3% in American stores. But the rest of 2023 is what Walmart is worried, Rainey adding that it is difficult to predict how the economy will affect buyers, which is why the company has a "prudent perspective".
"There are just a lot of things we don't know," John R. Furner , said the president and chief executive officer of Walmart U.S., during the call. “We could tilt ourselves into a recession. We do not know what happens to consumer spending. We do not know what is happening to layoffs, household income. And so, we are so early in the year and that there are many unknowns at the moment, we are simply taking a prudent perspective. ""
Will other Walmart stores will close?
In light of these declarations, buyers can be concerned that this approach could lead to more store closures, which is a known strategy that retailers use to reduce costs. As CNN Business points out, retailers like Tuesday morning And Party City has just announced the closures and bankrupt , stressing that the so-called retail apocalypse is a continuous situation.
The managers of Walmart, however, made no mention of additional closures when the profits of February 21, and they did not provide additional details on the confirmed closings.
In a declaration at Better life , a Walmart spokesperson had no comments on the farms of future stores. So, at least for the moment - it seems that your local walmart is not added to the cutting block.
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Some locations are already stopping for good.
Although no additional closure is on the file, Walmart launched closures announced last week, closing two Shipping and delivery places . AE0FCC31AE342FD3A1346EBB1F342FCB
The Walmart collection sites in Lincolnwood, Illinois, and Bentonville, Arkansas, closed on February 17, leaving the future of the collection format. In 2022, the only other Walmart collection location - in Metairie, Louisiana, also closed for good.
"We are recognizing customers who gave us the privilege of serving them in our collection and delivery places, " Felicia McCranie , Director of World Communications at Walmart, said previously to Insider. "We are impatient to serve them in our other stores in the surrounding communities and on Walmart.com."
The other planned closures occur soon.
The other five Walmart stores should all close before March 10, have previously confirmed Walmart officials. Two Walmart Supercenters in the Chicago region ended, one in Homewood and the other in Plainfield, Illinois.
Florida loses a Walmart neighborhood market in Pinellas Park , while a Walmart Supercenter in Albuquerque, in New Mexico, also stops. The fifth traditional store to close is another Walmart SuperCentry in Milwaukee, Wisconsin. The employees of each Walmart will have the opportunity to transfer to other stores.
"We are grateful to customers who have given us the privilege of serving them," said McCranie previously Better life on closures. "We are impatient to serve them in our other stores in the surrounding communities and on Walmart.com."
