Current:Home > NewsWalmart store closures: Three more reportedly added to list of shuttered stores in 2024 -Global Finance Compass
Walmart store closures: Three more reportedly added to list of shuttered stores in 2024
View
Date:2025-04-15 02:16:55
Walmart is the latest low-price retailer to announce store closures, according to reports.
Two stores in California and one store in Maryland is closing, according to the Business Insider. The media outlet also is reporting that the retailer has closed three other stores, two in California and one in Ohio.
Walmart's closure announcement comes just after Dollar Tree announced this week that it will shut the doors of nearly 1,000 of its Family Dollar stores this year.
Great Value cashews:Sold at Walmart stores in 30 states recalled, FDA says
Walmart uses process when determining store closures, Walmart exec says
USA TODAY reached out to Walmart. Senior Director of Global Communications and Corporate Affairs at Walmart, Charles Crowson, did not confirm or deny the store closures. However, Crowson told USA TODAY the process Walmart uses when determining which stores to close.
“We have more than 5,000 Walmart stores and Neighborhood Markets across the U.S., and unfortunately, some don’t meet our financial expectations, Crowson said. “While our underlying business is strong, these stores haven’t performed as well as we’d hoped.”
Walmart does not close stores at random, rather, the store goes through several factors before shutting the doors on any of its retail stores.
“These decisions aren’t made lightly and were reached after a thorough review process,” Crowson said. ”Our decisions to move forward with closures are based on several factors, including historic and current financial performance, and are in line with the threshold guiding our strategy to close underperforming locations.”
Dollar Tree announces nearly 1,000 Family Dollar store closures
Dollar Tree announced it will close nearly 1,000 of its Family Dollar stores after the stores experienced a significant underperformance in 2023, according to the press release by the company.
During the fourth quarter of 2023, Dollar Tree underwent a review of its stores performance to identify locations to close, relocate or re-banner, the company said.
“As a result of this review, we plan on closing approximately 600 Family Dollar stores in the first half of fiscal 2024. Additionally, approximately 370 Family Dollar and 30 Dollar Tree stores will close over the next several years at the end of each store’s current lease term,” the company said in the press release.
A spokesperson for Dollar Tree told USA Today that the company conducted, "a comprehensive review to identify and address underperforming stores and invest in improved store standards and growth."
"Our review identified approximately 600 Family Dollar stores for closure in the first half of 2024 and an additional approximately 370 Family Dollar stores to be closed over the next several years during the normal course of lease expiration," said Dollar Tree Vice President of Communications Kate Kirkpatrick. "Family Dollar and Dollar Tree stores are important to thousands of communities across this country. We owe it to those we serve to position all of our stores for success and meet the expectations of our valued customers and associates."
Ahjané Forbes is a reporter on the National Trending Team at USA TODAY. Ahjané covers breaking news, car recalls, crime, health, lottery and public policy stories. Email her at aforbes@gannett.com. Follow her on Instagram, Threads and X @forbesfineest.
veryGood! (966)
Related
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Julie Bowen Reacts to Being Credited for Saving Sarah Hyland From Abusive Relationship
- New Mexico primary holds implications for Legislature and prosecutor in Alec Baldwin case
- Arizona tribe temporarily bans dances after fatal shooting of police officer
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- Novak Djokovic drama among top French Open storylines in final week at Roland Garros
- Women’s College World Series Oklahoma vs. Florida: How to watch softball semifinal game
- Muhammad Ali’s childhood home is for sale in Kentucky after being converted into a museum
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Rupert Murdoch marries for 5th time in ceremony at his California vineyard
Ranking
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Rapper Sean Kingston booked into Florida jail, where he and mother are charged with $1M in fraud
- Remains of World War II soldier killed in 1944 identified, returned home to Buffalo
- Spencer Wright’s Son Levi, 3, Being Taken Off Life Support After Toy Tractor Accident
- Travis Hunter, the 2
- Book excerpt: The Ministry of Time by Kaliane Bradley
- Epoch Times CFO charged with participating in $67M money laundering scheme
- Julie Bowen Reacts to Being Credited for Saving Sarah Hyland From Abusive Relationship
Recommendation
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Gossip Girl alum Taylor Momsen bit by a bat while performing in Spain: I must really be a witch
Most wanted Thai fugitive arrested on Bali after 17-hour speedboat escape
Trial set to begin for man charged in 2017 Charlottesville torch rally at the University of Virginia
Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
New Orleans valedictorian lived in a homeless shelter as he rose to the top of his class
After guilty verdict, Trump will appear on the ballot in the last presidential primaries of 2024
Texas softball edges Stanford, reaches championship series of Women's College World Series