Wal-Mart Closes Multiple Sam's Club Locations on the Same Day It Hiked Wages
- Wal-Mart unit will convert some sites to fulfillment centers
- Retailer sees 14-cent charge, mostly in fourth quarter
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It’s a bittersweet day for employees at Wal-Mart Stores Inc.
On the same day that the company boosted its starting pay to $11 an hour, it said it was closing 63 Sam’s Club warehouse locations. The move came after a review of the chain, reflecting that cost-cutting will remain a key focus for the world’s biggest retailer -- even as it gives workers a raise.