Is Walmart Closing Stores in 2023?
Walmart is one of the biggest retail stores in the world. Having over 10,500 stores under different banners all over the world, and over 4,700 Walmart stores in the United States.
With customers trooping into its stores all over the United States every day, how could Walmart decide to close its stores?
Is Walmart closing stores in 2022? How true is this? Will your local Walmart store be one of the Walmart stores that will be closed? All your curiosity will be answered, one after the other.
This article will list the Walmart stores planned to be closed down by the Walmart management, the reason for the closure, and every other thing you need to know.
Yes, Walmart is closing some of its stores due to underperformance financially.
Is Walmart Closing Stores In 2023?
Yes! Walmart has announced its plans to close some of its stores.
Approximately, over 160 locations of Walmart in 27 states in the U.S are announced by Walmart to be closing down soon, which will likely affect over 10,000 Walmart employees in the U.S.
Although, not all Walmart stores will be closed, some stores have been closed already, and more will be closed based on their performance score. This was made known in a post by the location’s official Facebook page.
Likewise, Another Walmart location released an official statement stating it will be closing its Walmart store in the coming week. It was disclosed that it is not a temporary closure but will be closing permanently on 11 November.
This news came as a shock to many as Walmart stores are known for growth and expansion having its stores virtually present in every state and locality in the US.
It is a one-stop store for most people who reside in any locality. Walmart stores are present; either the neighborhood Walmart or the Walmart supercenters.
However, it is discovered that the retail giant has been facing some business challenges, especially keeping up with other retail giants like Amazon which is leading to a backslide in sales.
With its everyday low prices on goods and services, customers troop into Walmart stores every time of the day during operating hours.
Though, during and after the Covid-19 pandemic, many stores in the United States found it hard to cope financially and have shuttered their doors. Walmart has also joined in this action of shuttering underperforming stores across the country.
Walmart Stores affected in 2022.
- Washington– 4055 Factoria Blvd SE. Bellevue, WA. Closed April 2022.
- PENNSYLVANIA– waterworks shopping center, 877 Freeport Road, Pittsburgh, PA. Permanently closed on November 11, 2022.
- ALABAMA– 1501 AI Highway 14 E, Selma, AL 36703. Temporarily closed due to a fire in November 2022.
- CONNECTICUT– 900 Boston Post Rd, Guilford CT. Closed May, 2022.
- OHIO- Cobblewood Plaza shopping center, 1143 Smiley AVE, Cincinnati, OH. Closed in April, 2022. And – 6594 Mayfield Road, Mayfield Heights, OH. Closed May, 2022.
- KENTUCKY– 7100 Raggard Road Louisville, KY. Closed in April, 2022.
Why is Walmart closing stores suddenly in 2022?
Walmart’s decision to close several of its stores was based on various factors. The most important one is the historic and current financial performance of the stores.
Although the metrics were not made public, Walmart stores that were perceived to be underperforming are bound for shuttering.
Closing underperforming Walmart stores is in line with the border that guides Walmart policy.
The stores are shuttered after a thorough analysis of the stores have been carried out, and it is done one store after the other. The closure is to ensure that Walmart keeps its portfolio in check; this keeps the company abreast of other situations and maintains a successful business.
How Many Walmart Stores Are Shuttered?
Walmart confirmed it will close 3 stores in April. These closures have been made known a few weeks before their closure. It was gathered that the stores were informed about the shuttering from late March to early April.
The 3 stores that were confirmed to be closed include one Walmart store in Louisville, Kentucky, another at the Greater Cincinnati Area, Forest Park, Ohio, and the last in Bellevue, Washington.
These stores were closed due to poor performance.
It is important to note that not all Walmart stores in these areas will be closed. Just the 3 listed above were closed on the 22nd of April.
Customers can still shop for their needs and wants in other Walmart stores present in these locations.
Will Other Walmart Stores In those Locations Be Closed?
Other Walmart stores or neighborhood markets are not moving out of those three (3) areas completely but will continue serving Walmart customers.
If your local Walmart store was shuttered, you can proceed to the other nearest Walmart store to shop.
Does Walmart Plan To Shutter More Stores?
Yes, Walmart also made plans to shutter other stores in May after the closure of the stores in April.
It was gathered from Yahoo that plans were made for the closure of two other Walmart stores in May. One of the stores is in Guilford, Connecticut and the other is another Walmart store in Ohio. This makes it two stores closed in Ohio.
All other local officials of Walmart stores to be shuttered have been informed about the management decisions. Clearance sales began not long after the notification from the management.
What Happens To Walmart Associates of Closed Stores?
Walmart associates of the closed stores are not sacked, they are just transferred to other stores that belong to Walmart.
Walmart is a great employer of associates. Instead of firing the associates working in underperforming stores, the associates are placed into other stores with vacant positions or added to other associates in another department.
Walmart associates not satisfied with the new Walmart store they are transferred to may seek relocation or quit Walmart if they don’t get their locations updated.
What About Other Unsold Items In The Shuttered Walmart Stores?
Immediately the management of the store to be closed down is informed of Walmart’s decision to close down, clearance sales will begin.
Clearance sales occur when items are sold at a very reduced price to get almost all the items present sold before the shuttering date.
Items that are not sold till the last day will be shipped to the nearest Walmart stores, and some items like groceries will be taken to local hunger relief organizations to share them.
No Walmart associate can or will take any remaining item because it is against the principle of Walmart.
Will My Local Walmart Store Be Shuttered?
If your local Walmart store is one of those stores listed above, then it will be closed.
However, before your local Walmart store is closed, an announcement will be broadcasted either at the entrance of the store or a place where it is easily noticeable notifying customers about the closure.
Also, a nearby operating Walmart store may be recommended to customers or they are recommended to use the Walmart store finder. This helps customers to get their items in another Walmart store without a hassle.
Note: Stores not among the stores listed above will not be shuttered, unless they are considered underperforming by the Walmart management.
Walmart is closing down some of its stores majorly because of underperformance. This is done by Walmart to keep itself relevant and in good standing for business.
Not all Walmart will be closed down or shattered. Just 3 were closed in April and 2 more in May. However, any Walmart store found culpable of financial underperformance will follow suit.
Walmart does not shut down its stores immediately. It takes the hard decision after several reviews of the historic and current financial state of the Walmart store to be closed.
Walmart customers whose local Walmart stores have been closed just have to use the store finder to locate another Walmart store near them.