- Walmart closed stores in 14 US states in 2023, citing poor performance
- He also downloaded about 79 Moosejaw and Bonobos locations.
- However, it plans to open or expand 150 stores in the next five years.
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Walmart closed 23 stores in the US last year, eight of which were in Illinois, it emerged this week.
In total, its total number of stores fell by 102, from 4,717 in January 2023 to 4,615 a year later.
That’s because in addition to the 23 closures, Walmart sold a total of 79 Moosejaw and Bonobos locations after selling the two retailers.
The closings were revealed in the company’s filings this week after it also announced that its revenue in the most recent quarter rose 6 percent to $173 billion.
They come despite an announcement in January that the company would expand by more than 150 stores over the next five years.
Walmart announced this week that its revenue in the most recent quarter rose 6 percent to $173 billion.
Last year, Walmart closed 23 stores across the United States, eight of which were in Illinois. A supercenter is scheduled to reopen as a neighborhood market in Atlanta, but it remains marked on the map.
Walmart spokespeople said the stores it closed were not generating enough sales or performing as well as expected.
“We have nearly 5,000 stores across the United States and, unfortunately, some do not meet our financial expectations,” they said.
The closures occurred in 14 different states: Illinois, Indiana, Hawaii, Washington, Minnesota, New Mexico, Wisconsin, Florida, Texas, DC, Kansas, Oregon, California, Georgia and Connecticut.
Among those affected are 12 ‘Supercenters’, seven ‘Neighborhood Markets’ and four ‘Discount Stores’. One of those supercenters is scheduled to reopen as a neighborhood market in Atlanta.
It also closed two experimental “pickup only” stores in Illinois and Arkansas.
Four of the total closures occurred in Chicago and were first announced in April of last year.
“The simplest explanation is that as a whole our Chicago stores have not been profitable since we opened the first one almost 17 years ago,” he said in a statement at the time.
“These stores lose tens of millions of dollars a year, and their annual losses have nearly doubled in the past five years alone,” they said.
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This year Walmart has said it plans to remodel 650 stores. In the photo, a customer shopping in the frozen section of a Walmart in Austin, Texas.
As for its plans for 2024, Walmart said it would remodel 650 stores in 47 states.
The new stores will feature improved designs, new products and “innovative technology” to enhance the shopping experience.
The sale of outdoor retailers Moosejaw and Bonobos locations was tied to the acquisition of the two retailers by Dicks Sporting Goods and Express, respectively.
Moosejaw operates about a dozen brick-and-mortar locations in the Midwest and around the Great Lakes, but is primarily an e-commerce brand.
Men’s clothing retailer Bonobos had about 68 locations in the United States.