Walmart Abandons Unprofitable Chicago Stores After Investing “Hundreds Of Millions” In City
April 12th, 2023Via: ZeroHedge:
After two decades of losses and “hundreds of millions of dollars” invested in Chicago, Walmart is shuttering four unprofitable stores in the metropolitan area, reducing its store footprint by half in the crime-ridden city.
“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,” Walmart wrote in a press release.
Indeed, Walmart has soured on Chicago – the Democratic stronghold that went from a once beautiful metro area into an absolute hellhole.
