Most of us don't even bat an eye when we stumble across a "Going Out of Business" sign these days. Store closures became a regular occurrence throughout the country over the last few years, and while the worst of the retail apocalypse is over, we're still seeing major companies pare down their retail footprint. A number of big-name retailers are slated to shutter stores this year, including Big Lots, Rite Aid, Family Dollar, CVS, and Walgreens. Now, Walmart has announced its first closures in 2024.
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From Portland, Oregon to Washington, D.C., cities across the country ended up permanently losing Walmart locations in 2023. According to the retailer's latest stats, there are 4,616 Walmart stores in the U.S. as of Oct. 31, 2023. But two of these are slated to shut their doors for good next month.
In a statement to Best Life, Walmart spokesperson Brian Little confirmed that the company has decided not to renew its leases at two San Diego-area Walmart locations. The stores at 2121 Imperial Ave. in San Diego and 604 Fletcher Parkway in El Cajon will both close to the public on Feb. 9.
Like most of the Walmart stores that closed last year, Little said these San Diego-area locations "haven't performed as well" as the company had hoped. But the company was also "unable to reach mutual lease renewals with the property managers" of both stores, according to the spokesperson.
"There is no single cause for why a store closes and our decision is based on several factors, including historic and current financial performance, and is in line with the threshold that guides our strategy to close underperforming locations," he explained.
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Overall, Walmart's "underlying business is strong," and the company has no additional closures planned in this region right now, Little added.
"These are never easy decisions, but actively managing our portfolio is essential to maintaining a healthy business," he said. "This is done on a case-by-case basis and only after a careful and thorough review."
Following the closures next month, Walmart will still have five stores left in San Diego and two in El Cajon. All affected associates are eligible to transfer to one of these locations, according to Little.
"We are grateful to the customers who have given us the privilege of serving them at our San Diego and El Cajon stores," he told Best Life. "We look forward to continuing to serve them at any of our many locations across the area, on walmart.com and through delivery to their home or business.”
There's no news of additional 2024 Walmart closures at this time, but we'll keep you informed about any future company announcements.
