Consumer
Walmart Halves Chicago Stores to Just Four as Losses Mount
- Retailer says it hasn’t made money in its 17 years in the city
- Company says crime, theft weren’t leading drivers of the move
A shopping cart outside a Walmart store in Chicago, Illinois.
Photographer: Scott Olson/Getty ImagesThis article is for subscribers only.
Walmart Inc. is closing four stores in Chicago, halving its footprint in the third-largest US city after years of mounting losses.
The closings mark a retreat for the nation’s largest retailer, which faces tough competition in Chicago from the likes of Target Corp., Albertsons Cos. and Aldi. Walmart said it had tried and failed to improve its performance by building smaller stores, localizing its merchandise offerings and investing $70 million in recent years on store upgrades, health facilities and a training center.