this post was submitted on 22 Nov 2024
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That Walmart CLAIMED were closed for high theft.
You can look up videos of some of the stores that were closed, they were basically being straight up looted.
I remember seeing the videos, and thinking to myself how I didn't understand how they could afford to stay in business like that. So when they announced they were closing those stores for theft, I didn't really think the given reason was ever in doubt.
"βThe decision to close a store is never easy,β company officials said in a statement. βThe simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago.β
The stores lose tens of millions of dollars a year, according to the company, a figure that nearly doubled in the last five years despite numerous strategies to boost performance, including building smaller stores, offering local products and building a Walmart Academy training center."
https://news.wttw.com/2023/04/12/walmart-closing-4-chicago-stores-company-says-losses-have-doubled-last-5-years
Doesn't sound like theft was ever the problem here according to them?