Walmart is cutting its losses in the Chicago market, announcing Tuesday it will close four of its eight stores in the city by April 16.
Employees at the shuttering locations — in the Chatham, Kenwood, Lakeview and Little Village neighborhoods — will be eligible to transfer to the remaining stores, the company said in a statement. Pharmacies will stay open for up to 30 days to accommodate customers.
“The decision to close a store is never easy,” company officials said in a statement. “The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago.” The stores lose tens of millions of dollars a year, according to the company, a figure that nearly doubled in the last five years despite numerous strategies to boost performance, including building smaller stores, offering local products and building a Walmart Academy training center.
“Unfortunately, these efforts have not materially improved the fundamental business challenges our stores are facing,” the company said. “The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to help keep them open and serving the community.”— Chatham Supercenter, the Walmart Health center and the Walmart Academy, 8431 S. Stewart Ave.— Lakeview Neighborhood Market, 2844 N. Broadway St.
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