Wal-Mart to Close 269 Stores, 154 of them in the US
Wal-Mart announced the company will close 269 stores, more than half of them in the U.S. and a big chunk in its challenging Brazilian market.
The stores being shut down account for just a fraction of the company’s 11,000 stores worldwide and less than 1 percent of its global revenue.
The closures will impact 16,000 workers, 10,000 of them in the U.S. alone.
Many of the 154 stores closing in the U.S. are smaller stores, called Walmart Express, which were launched as a test program in 2011.
Wal-Mart intends to open 50 to 60 Supercenters and 85 to 95 Neighborhood markets in the fiscal year that starts February 1.
For a complete list of store closures click here.