Walmart store closures are a warning sign of retail apocalypse

Описание: Walmart has closed nine stores across the country this year, signaling a potentially bleak future for shoppers, according to retail experts.

The closures and layoffs of hundreds of corporate employees come as the company pushes remote workers to return to the office.

Retail analyst Neil Saunders noted that Walmart’s store closures, which began in 2016, indicate a broader trend affecting the entire retail sector.

The first two stores to close this year were in San Diego and El Cajon, California, on February 9, followed by a third in West Covina on March 29 due to underperformance.

Additional closures included locations in Towson, Maryland; Columbus, Ohio; Granite Bay and Fremont, California; Milwaukee, Wisconsin; and the latest in Aurora, Colorado, on June 7.

Walmart’s spokesperson stated that while the company’s overall business is strong, certain stores did not meet financial expectations, the U.S. Sun has reported.

read more: https://www.the-sun.com/money/1157818...

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