The Briefing Room

General Category => Economy/Business => Topic started by: jmyrlefuller on January 12, 2018, 01:21:39 am

Title: 63 Sam's Club stores are closing their doors
Post by: jmyrlefuller on January 12, 2018, 01:21:39 am: http://money.cnn.com/2018/01/11/news/companies/sams-club-store-closing/index.html (http://money.cnn.com/2018/01/11/news/companies/sams-club-store-closing/index.html)

by Jackie Walters and Ben Geier
January 11, 2018

Sam's Club is shutting down 63 stores, and some employees and customers say it did so without warning.

In a press release issued Thursday evening, Walmart (WMT), which owns Sam's Club, said 12 of the 63 locations will be converted into fulfillment centers. The move reduces the number of Sam's Club locations in the United States to 597.

Walmart spokesperson Greg Hitt estimated that roughly 9,450 people are employed across the 63 stores.

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Title: Re: 63 Sam's Club stores are closing their doors
Post by: Frank Cannon on January 12, 2018, 01:26:55 am: "I don't want to deal with Sam's Club," he said. "What they're doing is absolutely wrong."

So a company isn't supposed to adjust their business model and close and open stores? Screw that.
Title: Re: 63 Sam's Club stores are closing their doors
Post by: truth_seeker on January 12, 2018, 01:44:22 am: Cutting ten percent of worst stores. No big surprise.

Good business. Cut losses. Redeloy assets and management
Title: Re: 63 Sam's Club stores are closing their doors
Post by: Cyber Liberty on January 12, 2018, 02:15:33 am: I like the part about fulfillment centers. Walmart is adjusting to the new business models and going after rapid delivery. Look for them to develop their own delivery system to go with it. More competition for the Bezos empire.
Title: Re: 63 Sam's Club stores are closing their doors
Post by: anubias on January 12, 2018, 02:19:04 am: Walmart also adjusted their â€œminimum wageâ€ to $11 an hour and giving $1000 bonuses to â€œqualifiedâ€ employees.
Title: Re: 63 Sam's Club stores are closing their doors
Post by: Suppressed on January 12, 2018, 04:29:35 am: If they aren't issuing refunds of membership fees, then they can't be trusted to get my business under their new model.
Title: Re: 63 Sam's Club stores are closing their doors
Post by: Cyber Liberty on January 12, 2018, 04:35:45 am: Quote from: Suppressed on January 12, 2018, 04:29:35 am
If they aren't issuing refunds of membership fees, then they can't be trusted to get my business under their new model.

:thumbsup:
Title: Re: 63 Sam's Club stores are closing their doors
Post by: Gefn on January 12, 2018, 04:43:05 am: I have a BJ's club card. I like them better than Costco, and Sams
Title: Re: 63 Sam's Club stores are closing their doors
Post by: Frank Cannon on January 12, 2018, 04:50:06 am: Quote from: Freya on January 12, 2018, 04:43:05 am
I have a BJ's club card. I like them better than Costco, and Sams

That's odd. I find women usually don't care for BJ's.
Title: Re: 63 Sam's Club stores are closing their doors
Post by: IsailedawayfromFR on January 12, 2018, 06:16:15 pm: Quote from: Suppressed on January 12, 2018, 04:29:35 am
If they aren't issuing refunds of membership fees, then they can't be trusted to get my business under their new model.
Why? Being a member allows them to order online purchases as well.