2023-05-14 21:49:41
Walmart is the largest employer, not only in the United States, but worldwide. However, the largest retailer now it is closing stores in some of the largest cities in the American Union.
Among the states affected by the closures are Arkansas, Georgia, Florida, Hawaii, Illinois, Indiana, Minnesota, New Mexico, Oregon, Texas, Washington, Wisconsin, and the District of Columbia.
According to a statement issued by the company, the branches that close are those that have presented a “lower than expected performance”, without giving more details regarding it; but, what exactly does this refer to?
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Why are Walmart stores closing in large US cities?
poor financial performance it is a solid reason to close the stores; however, there are underlying factors that can be attributed to the drop in sales.
a glut of stores
Some store owners they came out of the pandemic strong, taking advantage of the fact that consumers were ready to buy once more. According to The Wall Street Journalretail vacancy decreased last year, while rent requests for shopping centers increased. The opening of these physical stores created competition for the retail giants and the market became overcrowded.
Work from home
More people are working from home compared to pre-pandemic times, which means fewer people in city centers. The rise in people engaging in remote work has affected the commercial areas of large cities, which used to be full of office workers going to and from work.
According to studies of JP Morgan Chasedue to this movement of workers from urban centers to suburbs, commercial establishments have reflected the movement, having to close stores in expensive cities to move to cheaper ones.
online shopping
online shopping they had been on the rise for years, but the pandemic fueled their growth. Online sales have become more attractive for retailers, since they prevent losses due to theft or human error.
Salary increment
At the beginning of the year, Walmart announced it would increase its minimum wage from $12 to $14 an hour as it tries to retain its current staff. The company is trying to keep up with its competitors in a tight job market for lower-paying companies. This wage increase is likely to have had an impact on the retailer’s profit margins.
Complete list of Walmart supermarkets that will close in 2023 in each state
Next, We share the list with the Walmart branches that close in each of the affected states:
Arkansas
– 3701 SE Dodson Road, Bentonville (Pick-up Concept Only)
D.C.
– 99 H Street NW, Washington
Georgia
– 1801 Howell Mill Rd NW, Atlanta
– 835 MLK Jr Dr NW, Atlanta
Florida
– 6900 US Highway 19 North, Pinellas Park
Hawaii
– 1032 Fort Street Mall, Honolulu
Illinois
– 17550 South Halsted St, Homewood
– 12690 S. Route 59, Plainfield
– 840 N. McCormick Blvd, Lincolnwood (Pick-up Concept Only)
– 1511 Camp Jackson Road, Cahokia
– 8431 S. Stewart Ave, Chicago
– 4720 S. Cottage Grove Ave, Chicago
– 2844 N. Broadway, Chicago
– 2551 W. Cermak Road, Chicago
Indiana
– 3701 Portage Road, South Bend
Minnesota
– 1200 Shingle Creek Pkwy, Brooklyn Center
New Mexico
– 301 San Mateo Blvd SE, Albuquerque
Oregon
– 4200 82nd Ave. SE, Portland
– 1123 N Hayden Meadows Dr., Portland
Texas
– 24919 Westheimer Pkwy, Katy
Washington
– 11400 Hwy. 99, Everett
Wisconsin
– 10330 W. Silver Spring Dr, Milwaukee
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