Walmart to close four Chicago stores

Walmart announced that it will shut down four Chicago locations, noting that while four other locations will remain open, its Chicago stores have been losing money for years.

"The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years. The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to help keep them open and serving the community," Walmart explained in a press release. ---More...