Walmart Closes Four Chicago Stores After 17 Years of Losses Totaling 'Tens of Millions'

Walmart is closing four underperforming Chicago stores that have collectively lost money every year since opening nearly 17 years ago.
The four stores slated for closure have lost Walmart 'tens of millions of dollars a year,' with losses at Chicago Walmart stores nearly doubling over the past five years according to the company.
Walmart attributed the closures to an inability to successfully turn the stores profitable through various business strategies and $70 million in investments over several years.
The closures come as Walmart plans to shutter 15 underperforming stores across major cities in the U.S. this year and as some analysts see the move as a retreat from Walmart's push to attract more urban customers.
Walmart said the approximately 400 employees at the four closing Chicago stores will be eligible to transfer to other area locations and will continue to receive pay through August.