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.
Workers at Tesla's Gigafactory 2 in Buffalo, New York said the automaker fired dozens of employees after they announced plans to form a union, according to a Bloomberg News report.
Veronica Willis, investment strategy analyst with Wells Fargo Investment Institute, joined Cheddar News to discuss Wednesday's trading session following better-than-expected retail sales and what's on tap for the markets this year.
