63 Sam’s Clubs will be closed around the country, reducing the number of clubs from 660 units to 597. 12 of the impacted clubs will be converted to e-commerce fulfillment centers and the balance of the clubs will be closed in the next few weeks. Suddenly management recognizes the transformation of its businesses and the need for a strong fleet of clubs that fit for future growth. Walmart will record a charge of about $0.14 per share in the fourth quarter of 2017 for the initiative. It is evident that Sam’s management is gearing up for stronger on-line promotions.

Source: Forbes January 12, 2018 17:03 UTC