Closing stores is always a difficult decision for any retailer, and Walmart, with its widespread presence, has been a notable positive aspect on its record.
However, in 2023, Walmart exceeded its initial plan of closing 15 stores, ending up closing a total of 24.
This impacted 14 states and Washington, D.C., with the highest number of closures occurring in Chicago and across Illinois.
Walmart attributed underperformance and theft as the primary reasons for these closures, stating that these stores were incurring significant annual losses.
Despite substantial investments in Chicago, the expected improvements in store performance did not materialize.
The trend of closures will continue into 2024.
Currently, Walmart intends to close only two locations in California, specifically the Walmart Neighborhood Market on Imperial Avenue, San Diego, and the Walmart at Fletcher Parkway, El Cajon.
The main reason cited for these closures is the inability to reach leasing agreements with the respective property owners.
The affected employees will be relocated within the company, and both locations are scheduled to close on Feb. 9, 2024.
