Walmart, the largest retailer in the world, announced on Friday it will close 269 stores worldwide, of which over 150 are in the United States and the rest, elsewhere in Latin America, 60 of them in Brazil.
This decision will affect about 10,000 jobs in the US and about 16,000 worldwide.
Those 269 stores that will cease operations represent about 1 per cent of the annual turnover of the chain, which in the last fiscal year reached USD 486,000 million.
The news came along with business figures of Walmart in the US during last Christmas holidays, which were worse than expected, despite the significant discounts offered to attract customers.
Sales increased only 3 per cent in November and December to USD 626,000 million, down 3.7 per cent projected by the US National Retail Federation.
Two subsidiaries of Pacific Andes request to be declared bankrupt Hong Kong
As part of its restructuring process, Pacific Andes International Holdings (PAIH) announced that two indirect subsidiaries, Golden Target Pacific Limited and Nouvelle Foods International Limited, have filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code.
New fishing technology is 'a double-edged sword' Spain
A research study conducted by the Institute of Environmental Science and Technology of the Universitat Autònoma de Barcelona shows that future improvement of fishing technology poses a threat for the global fishery that could be greater than climate change.
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