Economy

Sam's Club Closings 2018: 63 Stores Shutting Down

Sam's Club Closings 2018: 63 Stores Shutting Down

Walmart is shuttering some of its Sam's Club locations, with some stores reportedly closing their doors across the U.S.as early as Thursday.

"After a thorough review of our existing portfolio, we've made a decision to close a series of clubs and better align our locations with our strategy", Sam's Club said via its official Twitter page. "Closing clubs is never easy and were committed to working with impacted members and associates through this transition".

Some point out Sam's Club is giving certain employees bonuses due to tax reform - and wonder if the company appears to be doing well, why they're downsizing. Requests for comment weren't immediately returned by Sam's Club, a membership-based discount warehouse retailer operated by Walmart.

Phillip Keene, a spokesperson for Wal-Mart, the parent company of Sam's Club, says over 500 employees are affected by the closures in NY state. Stay with tampabay.com for updates.

A sign hangs on the side of a Sam's Club store January 12, 2010 in Rolling Meadows, Illinois. The official Sam's Club Twitter account replied to some questions with a brief statement.

A reporter with KHOU11 in Houston said via Twitter that employees at one local store showed up to work and learned the location was shutting down.

Several other states where CNNMoney has confirmed stores will be closing did not have such notices posted as of Thursday afternoon.

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Business Insider published a list of closures that included Sam's Club stores from Anchorage to Tampa Bay.

"It is with great saddest that we are losing one of our box clubs in the area as well as the displacement of so many employees", said Mayor Armstead.

At the Owings Mills location, 169 employees are out of a job. There is a nearby BJs, and it was also just announced that Costco is coming to the Owings Mills Mall location.

It's not clear how many stores have closed.

Later - when asked about Walmart's double-barreled decision to raise wages but close Sam's Club stores - White House press secretary Sarah Sanders praised the company.

The news about the layoffs, which Walmart apparently tried to downplay by announcing the bonuses, was met with severe criticism.


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