Walmart is closing four stores in Chicago, cutting its footprint in half in the third-largest U.S. city after years of mounting losses. The closings mark a retreat for the nation's largest retailer, which faces tough competition in Chicago from the likes of Target, Albertsons, and Aldi. Walmart said it had tried and failed to improve its performance by building smaller stores, localizing its merchandise offerings, and investing $70 million in recent years on store upgrades.
Joining the likes of Spotify, Microsoft, and Google, SiriusXM on Monday said it's laying off 8 percent of its workforce, or about 475 employees, in response to flagging subscriber growth.
Altria has announced plans to acquire e-cigarette and vaping giant NJOY for $2.75 billion in cash just days after selling its stake in Juul Labs, another vaping company that is currently mired in legal challenges.
