Walmart closures a warning sign of retail apocalypse with other chains at risk
by WALMARTS are closing across the country – and retail experts say the cuts are signals of a bleak future for shoppers.
The multi-million dollar corporation has closed nine stores so far this year, which could be a warning sign for other retail giants.
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Walmart, which operates 5,000 stores in the US, is also reportedly laying off hundreds of corporate employees as the company urges remote workers to come into work.
Retail analyst Neil Saunders told Yahoo that Walmart’s closures in 2016, captured by retail photographer Nicholas Eckhart, were the beginning of a pattern in store cuts.
“The blunt truth is that while stores remain a vital part of the retail mix, they are not quite as relevant as they used to be,” the expert told the outlet.
“Walmart’s decision is part of a larger shift that will be played out across all parts of the retail sector over the coming year and beyond.”
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Saunders’ prediction turned out to be largely true as nine Walmarts are closing this year across four states.
The first two stores to close were in California – in San Diego and El Cajon on February 9.
“We are grateful to the customers who have given us the privilege of serving them at our San Diego and El Cajon stores,” Walmart spokesperson Brian Little told Business Insider in January.
“We look forward to continuing to serve them at any of our many locations across the area, on Walmart.com, and through delivery to their home or business.”
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A third California store closed on March 29 in West Covina. A Walmart spokesperson told Los Angeles-based KTLA that the store had underperformed.
“We have nearly 5,000 stores across the U.S. and unfortunately some do not meet our financial expectations,” Walmart told the outlet.
“While our underlying business is strong, this store hasn’t performed as well as we hoped.”
The company closed stores in Towson, Maryland, and Columbus, Ohio, because they also didn’t meet financial performance expectations.
The Walmart in Granite Bay, California, closed on April 12 – making it the fourth store in the state to shut its doors before the Fremont store became the fifth on May 24.
The mega-company also closed its Milwaukee, Wisconsin, location on May 17.
The ninth and latest shuttered Walmart of the year closed on June 7 in Aurora, Colorado.
Walmart stores closed in 2024
So far, Walmart has closed the following stores in 2024:
- San Diego, California – February 9
- El Cajon, California – February 9
- Columbus, Ohio – February 16
- West Covina, California – March 29
- Towson, Maryland – April 5
- Granite Bay, California – April 12
- Milwaukee, Wisconsin – May 19
- Fremont, California – May 24
- Aurora, Colorado – June 7
“We are grateful to the customers who have given us the privilege of serving them at our Walmart store at 10400 E. Colfax Ave,” Walmart spokesperson Kelsey Bohl said.
The store’s 130 employees were transferred to a nearby store.
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The retailer also announced in April that Walmart Health and Walmart Virtual Care services were shutting down.
After five years of the services, 51 health centers across five states closed, and virtual care stopped.
