Walmart announced on Tuesday they are closing four stores across Chicago.
The retail giant pointed to dwindling profits as the main reason it is shuttering those locations.
"The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years," the company said in#5781 Chatham Supercenter, the Walmart Health center, and the Walmart Academy, 8431 S. Stewart Ave.#5645 Lakeview Neighborhood Market, 2844 N. Broadway St.
Walmart said they tried several different strategies to remain profitable at the failing stores but none of their changes reflected improvement.Shoppers react after Walmart announces closure of three suburban stores The reason for the Homewood location closure? Walmart says because of its poor performance record, and that it "did not meet Walmart’s financial expectations."that I have read and agree
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