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Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
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Walmart to Close 269 Stores Worldwide
More than half of the stores set to close are located in the United States, and the closures will effectively mean the end of the Walmart Express small-format store concept.
Bentonville, Ark.--After reviewing the financial performance of its nearly 11,600 stores worldwide, retail giant Walmart has announced that it will close 269 stores, approximately 2 percent of its global portfolio. Of those, 154 are located in the United States.
This will include the company’s 102 Walmart Express stores, a small-format concept that has been in test mode since 2011. It also includes 23 Neighborhood Markets, 12 Supercenters, seven stores in Puerto Rico, six discount centers and four Sam’s Club stores.
While most will close at the end of the month or, in the case of the Sam’s Club stores, in early February, a select few already were shuttered as of Sunday.
The company’s decision impacts about 10,000 employees in the U.S. The retailer estimated that more than 95 percent of the closed stores in the U.S. are within 10 miles on average of another Walmart, and so it hopes to place these associates in nearby locations. Where that isn’t possible, Walmart said it will provide 60 days of pay and, if eligible, severance, as well as resume and interview skills training.
With the announcement of this news, Walmart said in a statement that it now will focus on “strengthening Supercenters, optimizing Neighborhood Markets, growing the e-commerce business and expanding pick-up services for customers.”
Walmart, which still ranks as one of the largest sellers of fine jewelry in the U.S., plans to open 50 to 60 Supercenters and 85 to 95 Neighborhood Markets in the U.S. in the fiscal year starting Feb. 1.
The full list of stores that will close can be found here.
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