A Walmart in Richmond, Virginia has been announced to close on Friday.
The retailer has been closing a lot of stores in the last couple of months. In this news report by Business Insider, Walmart said it's closing "22 retail locations across the US this year".
Let's dive into this.
In a recent development, Walmart has officially announced its intention to shutter one of its stores in Richmond, Virginia on July 28.
Expressing gratitude to the loyal customers, Walmart spokesperson Felicia McCranie conveyed their appreciation for the support received at their Brook Road Neighborhood Market location in an emailed statement to Insider.
"We look forward to serving them at our other stores in the surrounding communities including our Brook Road Supercenter just two miles away and on walmart.com." McCranie added.
The shutdown of four stores in Chicago marks the most recent closure in a series of shutdowns by the country's largest retailer.
“The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years. The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to help keep them open and serving the community,” Walmart said in a press release.
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