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Here's why Walmart is closing 63 Sam's Club stores Walmart is closing 63 of its Sam's Club stores, which are located throughout the US and Puerto Rico, Business Insider reports.
Sam's Club CEO John Furner said the locations were affecting other stores, likely referring to cannibalization of customers, and that populations did not grow as the company had hoped in certain areas.
However, even with these locations in tow, Sam's Club posted positive year-over-year (YoY) growth in net sales, traffic, and operating income through Q3 of its fiscal 2018 (ended October 27, 2017).
Between 10 and 12 of the closed locations will be turned into e-commerce distribution centers. These new centers will help Sam's Club build out its e-commerce capabilities by giving it a wider fulfillment network, potentially helping it get online orders delivered to customers faster.
BI Intelligence analyst Daniel Keyes has the full story.
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| | | South Korean electronics company Samsung detailed a number of ways it aims to establish itself as a larger player in the connected home in 2018 and beyond at the Consumer Electronics Show (CES) in Las Vegas last week. Read More → | | | | |
| | | Dunkin' Donuts is piloting a new "next-generation concept store" in Quincy, MA where it will test multiple new offerings related to ordering, payment, signage and branding, and more, before choosing whether or not to roll them out broadly, according to CNBC. Read More → | | | | |
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| | | Comcast has unveiled the "Works with Xfinity" smart home program, a new service that allows approximately 15 million of the company's broadband consumers to connect and control smart-home devices from various manufacturers for no additional cost. Read More → | | | | |
| | | In 2017, Amazon sold $2 billion in grocery products online in the US, up 59% year-over-year (YoY), and more than any other US grocer, according to One Click Retail. Read More → | | | | |
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| | | Zelle, the bank-based peer-to-peer (P2P) offering, is continuing to do well, as evidenced by new data from Bank of America, which saw nearly 68 million P2P transactions in 2017 with the service, representing 84% year-over-year (YoY) growth. Read More → | | | | |
| | | The use of visual communication tools like video chat, emojis, and AR filters is gaining steam on Messenger, according to a post by Facebook Messenger VP David Marcus. Read More → | | | | |
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