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Wal-Mart Mart Stores Inc pulls plug on smallest store format, shuts 269 stores around the world

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Wal-Mart Stores Inc said it was pulling the plug on its smallest Express store format and closing 269 stores globally, including 154 in the United States, in a restructuring that will affect 16,000 workers. Overseas, the streamlining effort includes the closing of 60 money-losing stores in Brazil. The company says …

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Wal-Mart Stores Inc to hike pay for 1.2 million workers in 2016 to average US$13.38 an hour

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Wal-Mart Stores Inc said more than 1.2 million of its employees would get a raise in 2016 and introduced new rules allowing staff to carry over paid days off as the retailer aims to retain workers amid a tight U.S. labour market. The steps are part of a previously outlined …

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Small towns devastated after Wal-Mart Stores Inc decimates mom-and-pop shops, then packs up and leaves: ‘They ruined our lives’

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The Town’n Country grocery in Oriental, North Carolina, a local fixture for 44 years, closed its doors in October after a Wal-Mart store opened for business. Now, three months later — and less than two years after Wal-Mart arrived — the retail giant is pulling up stakes, leaving the community …

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Wal-Mart abandons growth prediction as currency hampers foreign markets

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Wal-Mart Stores Inc., the world’s largest retailer, lowered its annual sales forecast after the strong dollar pulled down the value of overseas revenue. The company now expects net sales growth to be flat this year, compared with a previous forecast for growth as high as 4 per cent, according to …

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Wal-Mart Stores Inc outshined by Amazon.com Inc despite spending billions on e-commerce

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After spending billions on its web operations to take on rival Amazon.com Inc., the last thing Wal-Mart Stores Inc. wanted to tell investors was that online sales momentum was slowing. Yet the world’s biggest retailer said Thursday that e-commerce sales rose only 8 per cent in the fourth quarter. That’s …

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