Could your Walmart be next?
According to various officials, the store closures occurring this week and those set for May are all being attributed to the same cause: performance issues. Walmart notified the Town of Guilford that its location was being axed"mainly due to underperformance," officials wrote on Facebook. And various spokespersons confirmed to regional newspapers that the Mayfield Heights, Forest Park, Louisville, and Bellevue stores were also being shuttered due to poor financial performance.
"Our decision is based on several factors, including historic and current financial performance, and is in line with the threshold that guides our strategy to close underperforming locations," Little explained to theBut Walmart officials maintain that the company is not facing mass closures nationwide.Five separate store closures in the span of just one month might look like a red flag to customers, who worry that their local Walmart could be the next one on the chopping block.
At least one leader has called into question Walmart's reasoning behind the upcoming store closures, however. Mayfield Heights Mayortold cleveland.com that while he isn't sure what meets the retailer's definition of underperforming, his city's Walmart is located in what he views as a robust shopping plaza."It's a phenomenal location that's for sure," DiCicco told the news outlet, noting that the plaza has easy highway access and high traffic.
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