Market News

Walmart Closes Doors at Sam's Clubs

Walmart Canada Corp. announced that it is closing its six Ontario Sam's Club locations in March. The company hopes to minimize job losses among the 1,200 employees at the stores by holding internal job fairs to help workers find jobs at existing Walmart stores. As part of that strategy, the company unveiled plans to launch 26 new Supercentres across the country this year including expansions of 20 existing Walmarts, two relocations and four new stores, bringing its Canadian footprint to 316 stores by the end of 2009. This is expected to create 5,000 new store jobs as well as 5,000 construction jobs, according to the company. http://www.globeinvestor.com/servlet/story/RTGAM.20090226.wwalmart0226/GISto ry/Email Source: Canadian Grocer E-Newsletter,Feb.27,2009