Wal-Mart will close stores in Portland and Lake Oswego has part of a 269-location global downsizing announced Friday morning. It is being reported that around 95 percent of these stores are actually located within an average of 10 miles of another Wal-Mart location.
Nick said Express stores typically employ about 15 associates and the company will work to transfer as many associates possible to surrounding stores.
The company states that the closings represent less than one percent of its global square footage and revenue is the part of its efforts to carry out a program of disciplined growth in the future.
In addition, other stores being closed include 23 of the Neighborhood Markets, 12 of their Supercenters, 7 locations across Puerto Rico, 6 of Walmart discount stores and 4 of their wholesale Sam's Outlets.
Wal-Mart will now focus in the USA on supercenters, Neighborhood Markets, the e-commerce business and pickup services for shoppers. The closure includes 154 USA stores and covering the entire 102 Express format stores which is, the smallest stores meant to fight with dollar stores which had been in pilot testing since 2011. In the same announcement, the company said it is planning to open 300 more stores globally next year.
A total of 10,000 Walmart associates will be impacted by the closings.
According to a company press release issued Friday, in October 2015, the company said it was actively reviewing its entire portfolio of operations, taking into accounting financial performance as well as strategic alignment with long-term plans.
"The decision to close stores is hard and we care about the associates who will be impacted", McMillon said in the statement. "We invested considerable time assessing our stores and clubs and don't take this lightly... we will take all appropriate steps to ensure they (affected workers) are treated well". Resume and interview skills training will also be made available, the company states. The Arkansas-based retail giant is also closing 60 stores in Brazil, where the company has struggled to compete with more established supermarket chains and has suffered from declining profit margins.
The Wal-Mart is a neighborhood market that will close Sunday, Jan. 17.