A popular retailer now has a massive closing down sale of up to 50% at one of its major locations, sources are confirming.
Walmart announced that it will shut its location in Towson, Maryland, around 10 miles north of Baltimore, in a few weeks time.
Its store on Putty Hill Avenue is expected to close on April 5.
Walmart said its decision to shut the location, inside the Towson Place shopping center, was made due to several reasons.
“Financial performance, location, and customer needs,” Walmart said according to CBS News.
Some shoppers had made the most of the subsequent closing down sale.
“Everything on shelves are clear,” one customer said.
“Everybody’s going in there the shelves are so cleared out that everybody is recording they are amazed at how fast everything is going.”
“50 percent off of everything – and this is our second time in here today,” another person said.
“We not coming back in here. Who needs a sewing machine? Who needs that?”
This closure comes as Walmart announced plans to restructure and renovate its stores across the country.
The company’s CEO John Furner detailed the brand’s “Store of the Future” concept that is set to be rolled out in the coming years.
These renovations would feature new store layouts and expanded selections.
Furner stressed in a January blog post that the plan would “reach and serve even more customers.”
He also confirmed that around 650 stores would be renovated and 150 new locations would be built.
These plans are set to finish in February 2025 and Furner said more jobs would be created.
Walmart confirmed that staff at its closing Towson store would be eligible to transfer to other Walmart locations and said they would be paid through June 14.
“Our workforce team is also ready to provide resources and assistance to support workers during this transition,” Baltimore County Executive Johnny Olszewski said.
For more news and updates like this, opt-in for push notifications.
Also Read: A Massive US Company Is Now Closing 500 Locations
Other Economy News Today
A famous retailer now closes 24 stores with more to come this year, sources are reporting on the growing matter.
Best Buy fanatics have been left devastated after chiefs announced a raft of store closures, reports The-Sun.
“Bosses at the electronics retailer have confirmed two dozen outlets nationwide closed in the company’s 2024 fiscal year, which ended in January.
But more closures look set to be on the way as between 10 and 15 outlets are likely to close in 2025.”
Chiefs announced the shutdowns during a company earnings call, per the ABC affiliate KABC-TV.
News of the upcoming shutdowns has left fans reminiscing on their memories.
Some shared fears about the future of brick-and-mortar stores.
“The end is coming,” one shopper feared.
Fans have lamented the rise of online retail giants and how they are starting to dominate the marketplace.
“Brick and mortar will always struggle to [sic] the online marketplace,” another chimed.
“Best Buy is no different. They have nothing to really offer you can’t order online and get same day or [the] next day.”
A tech fanatic reeled off a list of stores in another social media post.
They included brands such as Fry’s – an electronics company that closed all its stores in 2021.
Circuit City, another electronics firm that closed all retail outlets in 2009, was also named.
“All my favorite stores [have] gone. I guess the new age of shopping is online,” the shopper said.
Fans have said they are sorry to hear the news about the Best Buy stores.
“That is a bummer. Didn’t shop there often. But it was nice to have it when you needed them,” one said.
“Super sad! One of the best companies I’ve ever worked for,” a former employee chimed.
It’s not known which Best Buy stores will be closing.
“As our ongoing practice, we will continue to close existing traditional stores during our rigorous review of stores as their leases come up for renewal,” Matt Bilunas, the chief financial officer, said.
For more news and updates like this, opt-in for push notifications.
Also Read: A Massive Company Now Announces Unexpected Layoffs in Arkansas
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors.
This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
Scroll below to view my stock purchases this month!
You can also follow me on X (Twitter), Instagram, Facebook, or LinkedIn for daily news and updates on your favorite stories.
Frank Nez’s Stock Portfolio
Wondering which stocks Frank Nez is holding? Which stocks is Frank Nez buying?
Frank Nez is now sharing his exclusive and personal stock portfolio with readers, only on the Patreon.
11/16/2023 – Today I invested $1,000 in two different stocks for a brand new stock dividend portfolio I am creating for 2024.
Recommended For You ✨
About The Author
Not really surprised about Best Buys. When you treat customers as Best Buys does, you can’t last and to me the only surprise is how long they lasted. You cannot lie or cheat customers – evidence: Best Buys
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.