Walmart to Close Half Its Chicago Locations

Retail giant Walmart has announced that it will close half of its stores in Chicago and shutter four of its eight locations. According to Walmart, their eight locations have never made a profit, and they lose tens of millions of dollars every year. The company statement also reveals that the remaining stores continue to face the same difficulties but says this decision will help keep them open and serving the community.

Outgoing mayor Lori Lightfoot expressed concern that the move would affect thousands of residents, leaving them with barriers to basic needs. Walmart’s decision to close four of its Neighborhood Market stores, which sell mostly groceries, has been widely regarded as a sign of “urban struggles.”

Neil Saunders, an analyst at GlobalData, believes that Walmart works best in the suburbs, where it can have a massive store, massive parking lots, and people can easily drive up to the store and load up the car. However, Walmart’s decision to close Neighborhood Market stores seems to contradict this belief, so it is unclear how well Walmart really works in the suburbs.

Other retailers such as CVS and Walgreens have also closed multiple locations, particularly in San Francisco, due to organized shoplifting rings and local district attorneys who have stopped prosecuting certain crimes. Target, which