Walmart closing locations across 12 states this year:
Walmart closing locations across 12 states this year: CHICAGO (WGN) — Walmart plans to close four of its stores in Chicago by mid-April, the company announced Tuesday, adding to more than a dozen locations the retailer has already closed this year.
Affected Chicago stores will close on Sunday, April 16. Walmart officials cited profit margins as the reasoning behind the closing.
“The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years. The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to help keep them open and serving the community,” a press release stated.
Affected Chicago stores will close on Sunday, April 16. Walmart officials cited profit margins as the reasoning behind the closing.
“The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years. The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to help keep them open and serving the community,” a press release stated.
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