Wal-Mart to close 269 stores, 2 in Houston
10,000 US workers affected
NEW YORK – Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market. Two Houston locations are on the list of closings. The store locations are at 7075 FM 1960 Rd. W and 2740 Gessner Rd.
The stores being shuttered account for a fraction of the company's 11,000 stores worldwide and less than 1 percent of its global revenue.
The closures will affect 16,000 workers, 10,000 of them in the U.S.
The announcement comes three months after its CEO Doug McMillon told investors the world's largest retailer would review its store fleet in amid increasing competition from all fronts, including from online rival Amazon.com.
In the U.S., 154 locations will be closed, most of them small format stores called Walmart Express, which were launched as a test program in 2011. The remaining 115 locations to close are spread over Latin America, mostly in Brazil.
Wal-Mart posted a statement and a list of store closings on its website. Two store locations in Houston are set to close See the full list here.
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