RETAIL COLLAPSE: Walmart to Close 100’s of Stores – Weakest Year Since 2009

RETAIL COLLAPSE: Walmart to Close 100’s of Stores – Weakest Year Since 2009

So much for the economy being strong as Obama claims. We are in a full fledged retail collapse. Walmart has just announced it will close 269 store, with more than half of them in the US. The rest are in Brazil. They claim this is just a small percentage of the 4,500 stores Walmart has in the US, but consider this… just a few short years ago it was unheard of for a Walmart store to close. It wasn’t done, but it sure is now. Add that to the stock market this morning opening down over 400 points, which it has done numerous times in January, and you have a cocktail for something very bad brewing in the US economy.

Walmart

From the AP:

NEW YORK (AP) — Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market.

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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.

More than 95 percent of the stores set to be closed in the U.S. are within 10 miles of another Wal-Mart. The Bentonville, Arkansas, company said it is working to ensure that workers are placed in nearby locations.

The store closures will start at the end of the month.

Sales at US retailers declined in December to wrap the weakest year since 2009, raising concern about the momentum in consumer spending heading into 2016. Of the closures announced Friday, 154 locations will be in the US, including the company’s 102 smallest-format stores called Wal-Mart Express, which were opened as a test in 2011. Also covered in the closures are 23 Neighborhood Markets, 12 supercenters, seven stores in Puerto Rico, six discount stores and four Sam’s Clubs. Sam’s Club? Holy crap. Walmart is claiming it is sticking to its plan to build more stores here in the US and abroad, but one wonders for how long? With the stock market and inflation being utter fabrications, Americans are bracing themselves for a very rough economic trek in 2016.

Terresa Monroe-Hamilton

Terresa Monroe-Hamilton is an editor and writer for Right Wing News. She owns and blogs at NoisyRoom.net. She is a Constitutional Conservative and NoisyRoom focuses on political and national issues of interest to the American public. Terresa is the editor at Trevor Loudon's site, New Zeal - trevorloudon.com. She also does research at KeyWiki.org. You can email Terresa here. NoisyRoom can be found on Facebook and on Twitter.

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