Wal-Mart to Shut Hundreds of Stores
- World's biggest retailer also abandons small-format Express
- Closings affect less than 1% of square footage, company says
Wal-Mart Closing 269 Stores
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Wal-Mart Stores Inc. plans to shutter 269 stores, the most in at least two decades, as it abandons its experimental small-format Express outlets and looks to streamline the chain.
The move by the largest private employer in the U.S. will affect about 10,000 jobs domestically at 154 locations, according to a statement Friday. Overseas, the effort will eliminate 6,000 jobs and includes the closing of 60 money-losing stores in Brazil, a country where Wal-Mart has struggled.