An essential retailer is now closing four locations after the company’s CEO detailed a plan to offer new and better experiences.
Walmart has been progressing full-steam ahead with plans to restructure and renovate its stores around the United States.
That also seemingly means shedding some store locations that were not performing to standards.
It’s all part of the “Store of the Future” initiative, which will feature expanded selections and brand-new layouts for Walmart fans in the coming years.
Furner stressed in a January blog post that the plan would “reach and serve even more customers” and confirmed that about 650 stores would be renovated, along with an additional 150 fresh locations opened.
There will seemingly be a focus on “supercenters,” as smaller stores will be expanded, and the new ones will already be equipped with a significant amount of merchandise and space.
A store in Columbus, Ohio, was one of the first locations Walmart said would shut down for good this year.
Ahead of the Ohio closure, at least two Walmart stores were closed across California for similar reasons.
The first was in San Diego, and the second was in El Cajon.
The most recent closure was an anchor store inside Towson Place Shopping Center in Towson, Maryland, about eight miles north of downtown Baltimore.
Walmart implemented a two-floor design in the location when it opened 20 years ago in 2004.
The retail giant again cited financial underperformance and noted that the closure was a particularly difficult decision.
In the release about the Maryland closure, Walmart also said they collected data on thousands of underperforming stores.
It’s unclear exactly how many more might be closing soon throughout the year.
Shoppers affected by the closures will have to adjust for their basic grocery needs, reports The-Sun.
For more news and updates like this, opt-in for push notifications.
Also Read: A Massive Company Now Announces Unexpected Layoffs in Arkansas
Other Economy News Today
Another fashion chain now makes an unexpected closure after being rescued in 2021 and being able to save 2,000 jobs.
Peacocks, which once had more than 400 stores across the UK, closed another of its stores on March 16, reports The-Sun.
Peacocks collapsed into administration (bankruptcy) in 2020 and was forced to close just over 200 of its 400 stores.
However, the chain was rescued in April 2021 and was able to keep its remaining stores open, saving 2,000 jobs.
But now, the retailer has had to close more of its doors in a desperate bid to stay afloat.
The latest to bite the bullet is the Peacocks branch in Clarendon Square Mall in Hyde, which closed for good on Saturday, March 16.
According to Tameside Correspondent, the nearest branch is now Ashton-under-Lyne.
The Peacocks branch in Hyde actually had a closing down sale back in 2020, although it re-opened after Covid restrictions were lifted.
Now, it appears that the closure is permanent.
It’s not the only Peacocks store set to disappear from the high street in the coming weeks.
The retailer has announced it will close its store in Merthyr Tydfil high street in Wales on March 23.
The bargain fashion chain will be closing with a bang though, holding a mega 30 per cent off everything sale.
Meanwhile, the shop in Ashford’s County Square Shopping Centre in Kent will also close on March 23.
The unit has just reopened after “essential electrical works” forced it to remain closed for more than a week.
Elsewhere, Peacocks in Camborne, Cornwall, will close on April 3.
Plus, it is also shuttering its branch in Boscombe, Bournemouth, on April 6 in a blow for locals.
The retailer revealed news of the closure on its Facebook page which also showed a closing down sign-up in the branch window.
For more news and updates like this, opt-in for push notifications.
Also Read: Beloved Retailer With 850 Stores Will Now File Bankruptcy
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
Leave your thoughts below.
For more news and updates like this, opt-in for push notifications.