More than 100 Walmarts around the country shut their doors Thursday for good — many in small towns and rural areas with few other shopping options.
The retailer cites a long-term strategy shift and financial performance. Company shares are down 25 percent over the past 12 months, and the nationwide closures will also impact thousands of employees, reports CBS News correspondent David Begnaud.
Walmart is closing 154 stores in 27 states, many of them in small towns. In a statement to CBS News, Walmart said:
“The decision to close some of our stores was not easy and we share in the communities’ disappointment. We’re always searching for opportunities to serve more customers throughout the country — especially those in underserved communities. We’re now focused on where we can help impacted communities through our plans for charitable giving and expediting the process to work with potential buyers for these locations.”
Courtesy of Next News Network