Walmart to close Sam's Club stores

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"After a thorough review of our existing portfolio, we've chose to close a series of clubs and better align our locations with our strategy", Sam's Club wrote in one reply. So in many ways Walmart has been forced to increase pay simply to be able to attract-and keep-workers given the economic reality lately. "So, we're like, 'Let's come back, '" she said.

HAYLEY PETERSON: Thanks for having me. "Go on about it, go on about it. Give reasons why you did it".

Almost 11,000 workers will lose their jobs as a result of the closings, which coincide with celebration over the new lower corporate tax rate, which led Ivanka Trump to tweet that "America is on a roll", and prompted Treasury Secretary Steven Mnuchin ro thank Walmart from the White House briefing room.

On the flipside, Wal-Mart Stores Inc.'s move on Thursday can only be described as bipolar. That store will close January 26th, but no word on what exact dates the other stores will close.

Walmart is suddenly closing several Sam's Club stores across the United States without explanation. How many jobs will be lost? But I'd be willing to bet that many others will simply find themselves out of work.

The company would not provide a list of the specific locations that will be closed or the number of employees that would be impacted, but public filings examined by USA TODAY revealed that at least 3,802 workers will be affected.

About 10 to 12 of the stores are slated to be closed temporarily as the retailer converts them to regional distributional centers to help fulfill online purchases. The company said this is because of an increase in online shopping.

Walmart is doing what their competitor Amazon can't do, throw holiday parties.

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Flickinger said the conversion of the stores to e-commerce delivery hubs reflects Walmart's quest for a greater share of the e-commerce pie and should be of concern to retailers in many segments, including food retailers and drugstore chains. Garcia said the company doesn't know yet where all those centers will be. Customers who spoke to the New Haven Register said they felt betrayed and angry. But that remains to be seen.

Walmart had earlier cited tax legislation that will save it money in announcing the higher hourly wages, one-time bonuses and expanded parental benefits that will affect more than a million hourly workers in the U.S. The company said the new USA tax law had created some financial benefit.

In addition to the two stores closing in Peoria, Kroger is also closing two stores in Memphis, Tenn., and one each in Clarkdale, Miss., and Brownwood, Texas, according to local reports.

"It was very sudden and very shocking", Fitz said.

The first set of figures was revised later in the day when Walmart issued its press release.

But the strategy makes sense.

With the national unemployment rate at 4.1 percent, a 17-year low, there are more job openings in the retail industry now than at any time since December 2000, government data shows.

MCEVERS: Hayley Peterson, Business Insider's senior correspondent, thank you so much.

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