January 12, 2018 Comments (0) Views: 2106 National News, Top National Stories

Sam’s Club Shutting Down 63 Stores Nationwide

Walmart abruptly announced Thursday that 63 Sam’s Club stores would be closed across the nation, a move likely to affect 11,000 employees. Sam’s Club explained the closings on Twitter, saying: “After a thorough review of our existing portfolio, we’ve decided to close a series of clubs and better align our locations with our strategy.”

Ten of the locations closing will be converted into e-commerce distribution centers, and employees of those stores can reapply for positions at those locations. The remaining stores will stay open for several weeks before closing permanently without a plan for re-use. Stores will close in 23 states, including three in hurricane-ravaged Puerto Rico. (A list of closed stores can be found here.)

Big box format stores and regional malls have been hit the hardest in the changing retail climate. Retail uses that have prospered typically explore new uses for retail space, experiences, and deliver service in innovative ways.

Connect Media will explore the Sam’s Club closings and the state of the current retail market at Connect Retail West, January 25th at Pacific City in Huntington Beach. To hear from top players as they delve deep in to the state of retail, register today.

Read more at Business Insider

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