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.

Share:
More In Business
Potential Strike by Las Vegas Workers
Thousands of hospitality workers across 18 casinos in Las Vegas have announced they are set to strike if a new contract agreement is not reached by Friday, November 10.
Apple Beats Expectations in Latest Quarter
Apple posted better-than-expected profit and revenue in the latest quarter but said sales dropped for the fourth straight quarter, including a drop in revenue for iPads and iMacs.
Load More