Walmart closing 269 stores, seven in southern Georgia

ALBANY — In what is being called the largest single round of U.S. store closings in the company’s history, Wal-Mart Stores Inc. announced Friday that by the end of the month it will close 154 locations nationwide, including seven in southern Georgia.

Those seven include four Walmart Express stores in Pelham, Ashburn, Donalsonville and Ellaville. Those stores are expected to close Jan. 29.

Overall the company is shuttering 269 locations globally, 154 in the U.S. and 115 in Latin America, 102 of which make up the entirety of the company’s 12,000 to 15,000 square-foot Walmart Express stores.

In addition to the company’s smallest format stores which had been in pilot since 2011, Walmart is also closing 23 Neighborhood Markets, 12 Supercenters, seven stores in Puerto Rico, six discount centers and four Sam’s Clubs.

According to press release issued by the company, the move follows an active review of the company’s 11,600 worldwide stores conducted last year which took into account a number of factors including each store’s financial performance and strategic alignment with the company’s long-term plans.

Financially the closings represent an impact of approximately $.20 to $.22 of diluted earnings per share from continuing operations, with approximately $0.19 to $0.20 expected to impact fourth quarter of fiscal year 2016, with the remaining impact to fall in the first half of fiscal year 2017.

Walmart will report its fiscal 2016 fourth-quarter and full-year results on Feb. 18. The estimated financial impact is not included in the company’s fiscal 2016 fourth quarter and full year earnings guidance.

Additionally the impacted stores represent less than one percent of both the company’s square footage and revenue, but will have greater impact for many of the communities where those stores are located and for the 16,000 associates impacted by the closings.

In Pelham, which has a population of 4,000 people, 30 jobs will be lost when the store closes, according to Pelham Chamber of Commerce Executive Director Kent Holtzclaw.

“It’s not a positive impact by any means,” said Holtzclaw. “It means the loss of 30 jobs and the loss of another opportunity for people to have shopping choices.”

That sentiment was shared with others in the often small, rural communities that are facing store closures and are concerned about the continually shrinking job market.

However, in its release Walmart stated that 95 percent of the stores are within 10 miles of another Walmart, and the hope is that impacted associates can be transferred to a neighboring store.

Those associates that cannot be relocated will receive 60 days of pay and, if eligible, severance, as well as resume and interview skills training.

The company also intends to open 85-95 Neighborhood Markets during the coming year, including one in Albany set to open Jan. 20 on Slappey Boulevard.