Walmart closing several underperforming stores
- Walmart is closing several stores across the U.S.
- Locations in New Mexico, Illinois, Wisconsin and Florida will close due to underperformance.
- It’s also closing the last two pick-up-only stores, both located in Illinois.
Walmart will close several stores across multiple states due to financial underperformance, a company spokesperson confirmed to Retail Leader.
The superstore chain will close stores in Albuquerque, New Mexico; Homewood, Illinois; Plainfield, Illinois; Milwaukee, Wisconsin; and Pinellas Park, Florida; Walmart confirmed. It will also shutter its Chicago-area pick-up-only concept stores in Lincolnwood and Bentonville, Illinois. The pick-up stores will close to customers Feb. 17, according to Walmart, while the other Walmart stores slated for closure will shut down to customers March 10.
“We are grateful to the customers who have given us the privilege of serving them,” a Walmart spokesperson told Retail Leader. “We look forward to serving them at our other stores in the surrounding communities and on walmart.com.”
The company said the decision was made through a thorough review process that ultimately determined the locations did not meet the retailer’s financial expectations despite strong performance across the brand. The retailer considered both current and historical financial performance when deciding to close the locations. All associates at shuttered Walmart locations will be eligible to transfer to another store, according to the company.
Walmart said it would take lessons it learned from its pick-up concept stores and apply it to its pick-up and delivery offerings across its stores. As Insider reported, Walmart opened its first pick-up-only store in 2014 near its Arkansas headquarters. With the two Illinois stores closing, the retailer won’t have any more of the concept stores left.
Walmart operates nearly 5,000 stores nationwide, and is in the process of testing a new store design, rolling it out to more flagship stores, Retail Leader reported in January. The new design includes more interactive displays in departments such as home, store-within-a-store concepts, increased space inside the store, more merchandising focused on optimized storytelling and increased digital touchpoints.
Walmart’s total revenue was up 8.7% in the third quarter of last year. The mass merchant will release its fourth-quarter earnings later this month.