Sam's Club is closing stores. Walmart is abruptly closing 63 Sam's Club locations across the US, the company told Business Insider. Some stores were closed on Thursday. Others will close at a later date. Many employees were not informed of the closures ahead of the time, according to reports. 10 of the closed stores will be turned into ecommerce distribution centers. Walmart is closing 63 Sam's Club stores across the US, the company told Business Insider. Several stores were abruptly closed Thursday. In some cases, employees were not informed of the closures prior to showing up to work on Thursday. Instead, they learned that their store would be closing when they found the store's doors locked and a notice announcing the closure, according to reports. Ten of the affected stores will be turned into ecommerce distribution centers, and employees of those stores will have the opportunity to reapply for positions at those locations, a Walmart official said. The remaining stores will stay open for several weeks before closing permanently. All of the affected stores were scrubbed from Sam's Club's website Thursday morning. Sam's Club offered an explanation for the closures 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. Closing clubs is never easy and we’re committed to working with impacted members and associates through this transition." 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. Closing clubs is never easy and we’re committed to working with impacted members and associates through this transition. — Sam's Club (@SamsClub) January 11, 2018 The closures come on the same day that Walmart announced it was raising starting hourly wages to $11, expanding employee benefits, and offering workers bonuses of up to $1,000. Here's a list of closures rounded up from local media reports and Sam's Club employees that contacted Business Insider. The list will be updated as we learn of additional locations. List of Store Closing here .... http://www.businessinsider.com/walmart-suddenly-closes-sams-club-stores-2018-1
I read somewhere that the Walmart/Sams chain was always a pyramid scheme, it had to keep expanding to succeed. After ruining countless small businesses in America. Germany shut down their 85 stores a long time ago. They're overextended in America, and apparently having trouble employing people. Or their reputation is trashed and many won't shop there.
Not quite sure what your point is. Unemployment is very low right now. Are you searching for some bad economic news?
I've heard the same think about a Walmart near me ... they were having a hard time hiring, because no one want to work there.
If you can;t get the point of 63 Stores wit hall their Jobs closing ... then maybe you need an Economics Class or Book.
Sam's Club is utter crap. They're no cheaper than Costco but they are not as clean or efficient a store.
Walmart just announced (and their announcement was touted by the President and his supporters) that they were giving a bonus to hourly employees (averaging about 190$) per employee and raising their minimum wage by $1 per hour. The announcement to close 63 Sam's Clubs and to lay off thousands of workers did not receive the same level of fanfare. Raising awareness and pointing out some blatant hypocrisy on the part of those who wish to celebrate good economic news while ignoring negative economic news are parts of the point of this thread.
One point is that online shopping (especially with no sales tax and lower prices) is killing a lot of retail outlet stores or volume. That will only get worse. And that is the case no matter what changes or initiatives Trump or the govt can introduce. This is not an overnight thing. Amazon needs to be forced to charge state sales tax, for starters. And any other online site that does any volume.
Oh I know economics. The economy is strong and unemployment is low. In a free-market economy businesses will rightly close those stores which are not profitable. This is how it should be. I just thought you just might have some kind of point.
Sams Club employees across the nation report to work only to find out the store is closed what a ****ed up way to do business. but hey, tax cuts amirite? Metro Atlanta Sam's Club closes without notice; stores close across the country A message on their voicemail says "This Sam's club is closed effective January 11" and points callers to their website to find an open location. LITHONIA, Ga. – The Sam's Club in Lithonia on Turner Hill road is closed. A message on their voicemail says "This Sam's club is closed effective January 11" and points callers to their website to find an open location. This is one of several locations closing around the country. In Houston, several stores closed and the employees said it was without notice, telling reporters there that they only learned of the closure when they arrived to work. The news comes the same day Sam's parent company, Walmart, announced raises and bonuses for some employees. Walmart is boosting the minimum hourly wage for its U.S. employees to $11 and dishing out bonuses of up to $1,000, crediting President Trump's tax cut for enabling the move. http://www.11alive.com/article/news...-stores-close-across-the-country/85-507157783 Real Class ....
Freakn morons dont realize Sams Club is owned by walmart, and both feature products mostly from China
lol let me explain it to you. there could be a million reasons why sam's club is closing stores and laying people off. perhaps there is just too much competition from costco. however, we can assume the economy is not one of those reasons, as it is clearly on the upswing.
this is awesome. all the leftists receiving the same negative economic talking point and spitting it out like the mouth pieces they are, latching on to any bad news they can. meanwhile the trump economy just keeps growing.
This is an interesting phenomena. It seems like with the labor market tightening up and wages finally beginning to rise the Walmart business model no longer seems to be working. That's actually a good sign for the country, I think. But on the other hand, a part of this was also driven by the fact that low income consumers could no longer afford to shop at Walmart, because the Recession had dragged on so long. So there are both good and bad reasons Walmart is struggling. A "pyramid scheme" may not be the best words to describe it, but yes, it may have been unsustainable. Many people believed the company was coming in and sucking out the money from small towns. Then when the towns had been sucked dry, the company would pick up and leave. Not sure how much truth there is to this theory, but that's what many people in small rural towns were complaining about.
Even adding sales tax, retail stores will still take a big hit from losing to the huge quantity of shopping that is now done on-line. So you would want stores that are out of state pay the state sales tax they are shipping to? Much of the sales are over-seas, seems like that could get a bit tricky.
Isn't it funny, the last 8 years, any good economic news was "despite of Obama" and any bad economic news was "because of Obama". Now, the Trump fan argument is: Good economic news are "because of Trump", bad economic news are "despite Trump". Just watch the responses to this thread.
There will always be pockets of bad economics in a good economy. Are you willing to admit that the overall economy is currently strong?
Yes, of course. And I will even give Trump some credit with Obama getting the rest (probably a majority). Trump is an absolutely massive **** up in just about every other category that you can imagine, but the willingness to engage in anything remotely seen as friendly to businesses will obviously endear and garner him some positive results, in the short term at least, with the business community.
