Walmart is probably best known for having locations almost everywhere and having almost everything you want. Now Walmart is going to be closing some stores instead of opening them.
Starting with 7 “underperforming” stores over the next few weeks, Walmart will be closing stores that don’t measure up.
These stores that will be closing include 3 in Chicago and stores in New Mexico, Wisconsin, Arkansas, and Florida to name a few.
“This decision was not made lightly and was reached only after a thorough review process,” a Walmart spokesperson told AI.com. “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.”
Walmart will also be closing 3 tech hubs as it tries to streamline e-commerce efforts after sales growth online slowed.
This is all part of Walmart’s efforts to cut costs and keep prices down.