The Core

Why We Are Here => Economics & Investing => Topic started by: rcjordan on January 11, 2018, 09:05:45 PM

Title: Walmart abruptly closes Sam's Club stores across U.S.
Post by: rcjordan on January 11, 2018, 09:05:45 PM

Quote

Reports developing in other states indicated initially that the total store closings could top 260

http://www.mlive.com/business/index.ssf/2018/01/walmart_abruptly_closes_sams_c.html

Title: Re: Walmart abruptly closes Sam's Club stores across U.S.
Post by: buckworks on January 11, 2018, 10:08:11 PM

Wow! :o

Title: Re: Walmart abruptly closes Sam's Club stores across U.S.
Post by: rcjordan on January 11, 2018, 10:14:22 PM

When Amz, Wm/Jet, or -increasingly- your local grocery chain will deliver a box of detergent on a (DIY just-in-time home inventory) delivery system, bulk-buying discounts gets less attractive.  US homes' shrinking square-footage add to their problem as well.

Title: Re: Walmart abruptly closes Sam's Club stores across U.S.
Post by: DrCool on January 12, 2018, 05:30:26 PM

I talked with a friend of mine who manages a Sam's Club last night. He said these closures had been in the works for 3 years. Said these stores were about a 10% drag on the total business. So as a company they were up x% but without these 65 closed stores they would have been up 1x%

But Costco is packed every time I go. I think their Kirkland Brand has a lot to do with that. It is the only store brand I trust 100% of the time.