Pinellas Walmart on list of closings for poor performance. Walmart has announced the closure of seven stores in several locations across the United States due to profitability concerns. After conducting a “thorough review process,” the retail giant identified underperforming stores and decided to close them down. Number 7 is in the Tampa Bay area Pinellas Walmart. Walmart clarified that employees can transfer to other locations.
The decision to close these stores “was based on a range of issues concerning financial performance,” according to a Walmart spokesperson. CEO Doug McMillon had previously warned that Walmart could close stores and raise prices due to high rates of theft. While the company’s underlying business remains strong, specific stores have not performed as well as expected. Walmart has not disclosed whether additional stores are under review or if more closures will be announced. NewsChannel8