Walmart announced this morning that the company would be closing 269 stores world wide, 154 of those being in the United States. No stores in Springfield will be affected at this time.
In October, the company announced that it was in the process of reviewing their portfolio to “ensure assets were aligned with strategy.” The 269 stores represent less than 1% of the global square footage of the company. Of the 154 stores that are set to close in the US, 102 of them are the company’s smallest stores. A statement on Walmart’s official website reads:
Walmart instead will focus on strengthening Supercenters, optimizing Neighborhood Markets, growing the e-commerce business and expanding Pickup services for customers.
While the announcement that stores will close comes as a surprise, Walmart also announced that they will be building more Supercenters and Sam’s Clubs in 2017.
Domestically, Walmart intends to open 50 to 60 Supercenters and 85 to 95 Neighborhood Markets in Fiscal 2017, which begins Feb. 1. In the same period, Sam’s Club plans to open in seven to 10 new locations. Internationally, Walmart intends to open between 200 and 240 stores during the coming year.