Walmart closes four stores in Chicago – says they’re losing tens of millions a year | The gateway expert
In March, Walmart announced that they were closure of their last two locations in Portland, Oregon.
Now they are announcing the closure of four stores in Chicago. Just like in Portland, the retailer says these stores are simply not profitable.
In reality, people know that the real problem is crime, most likely mass shoplifting, which is driving the closures.
the fire reports:
Walmart closes four stores in Chicago
Walmart announced it would close four Chicago locations, noting that while four other locations will remain open, its Chicago stores have been losing money for years.
“The simplest explanation is that collectively our Chicago stores have not been profitable since we first opened nearly 17 years ago – these stores are losing tens of millions of dollars a year, and their annual losses have nearly doubled in the past five years alone.The other four stores in Chicago continue to face the same business challenges, but we believe this decision gives us the best chance to help them stay open and serve the community,” Walmart explained in a press release.
The company says it tried to address the profitability issue, but to no avail.
“Over the years, we have tried many different strategies to improve the business performance of these locations, including building smaller stores, localizing the product assortment and offering services beyond retail. traditional. We have invested hundreds of millions of dollars in the city, including $70 million over the past two years to upgrade our stores and build two new Walmart health facilities and a Walmart Academy training center,” Walmart wrote. “We hoped that these investments would help improve the performance of our stores. Unfortunately, these efforts have not materially improved the fundamental business challenges facing our stores. »
It’s ironic, given that the Democrats just announced that they will be holding their 2024 convention in the city.
Amazing. The same day Chicago is announced to host the 2024 Democratic National Convention, Walmart announces the closure of 4 (four!) stores in Chicago.
“[T]These stores lose tens of millions of dollars a year, and their annual losses have nearly doubled in the past five years.” pic.twitter.com/jMaJIs7cAl
— T. Becket Adams (@BecketAdams) April 11, 2023
Walmart said it would close four of its eight stores in Chicago, with annual losses nearly doubling in the past five years to “tens of millions” of dollars a year.
the DNC can rent one of the empty stores and also offer discounts to politicians.
— zerohedge (@zerohedge) April 11, 2023
Democratic policies lead to crime that causes these stores to close.
And the poor people the Democrats claim to care about are the ones who ultimately suffer the most.