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154 of the to be shuttered stores are in the US. About 10,000 US people will lose their jobs.
They anticipate a 12% decline in earnings and cite competition, especially online competition.
I can drive to 2 Walmarts in less than 10 minutes and 6 Walmarts in 20 minutes, all non- highway driving. I suspect at least one of these stores is on the chopping block.
They over expanded in some areas.
A heck of a lot of people are ordering basics, like toilet paper off of Amazon.
Software substitution is a game changer.
They expanded rapidly before the shift to online shopping got started in any significant amount. Walmart used to be the big bully on the block. That torch has now been handed to Amazon.
I'm worried about Walmart being able to make a profit !!! Maybe I should be worried that people will get confused and use the software like toilet paper ?
A new Walmart opened up recently and it only sells groceries. Not any cheaper than the other food stores. Maybe that will change when China can flood the market with the toxic food they need to get rid of.
Actually Walmart is no slouch when it comes to online ordering, and they were pretty good this Christmas season. Amazon is my first go-to but that's just habit. I'm mixing Walmart into my regular online orders now.
Location: New Albany, Indiana (Greater Louisville)
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In my region Meijer is killing WM. Cleaner stores, employees without face tattoos, always lots of cashiers available, self scan lanes, better international foods section, etc. We live 1 mile from WM and 3 from Meijer, we go to Meijer 95% of the time
I said years ago that they would move into the towns, smaller stores would fold, and then they could thin the stores out and force people to travel to the ones that remain open or to their online resource thereby creating more profits for Wal-Mart.
We used to shop 3 different ones in an area of about 30 miles radius. In the towns with limited competition, prices were noticeably higher than the stores where Wal-Mart had competition. As the competition decreased, the prices went up in the area. Right now, if my son gets a WII U game online, it is usually $10.00 cheaper than in the store on the higher priced games.
A lot of states are raising their minimum wages. Not to $15/hr. but certainly to $9/hr. and more. Walmart has a very robust web presence and can also go Amazon one better because their "ship to store" option saves $$$ and time. That kind of double threat should help Walmart, not hurt them.
Not that I feel sorry for Walmart. I feel sorry for the laid off workers. Retaliating against higher labor costs by laying off workforce and/or closing stores is supposed to send the message to Congress that increasing the minimum wage at the Federal level is a very bad idea. Sure it is. As I understand it, the 9 most recent billionaires are Walton heirs not even involved with the day to day operation of Wal-Mart Inc. Just by being Waltons they are making enough money to put them into billionairehood... ... we badly need to find a way to force the job creators to absorb the costs of bringing wage compensation of the worker class into line with the economic demands of living in a First World Country. There isn't any other country considered First World where the minimum wage is less than $15/hr. and in many its $20/hr., and even then workers don't pay anything out of pocket for their healthcare.
Walmart closing 154 stores in the US is not big news. Walmart has over 5,000 stores in the US, opens and closes stores every year, and has net growth of about 200 stores per year. Most of these 154 are part of the failed Walmart Express corner store concept.
Service and product numbers have gone down and prices have gone up. I can buy some of my groceries at the only store we have left, besides Walmart, quite a bit cheaper than at Walmart.
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