This has been reported in news.sky.com dated 15 January 2016.
Walmart, which in the UK owns third-biggest supermarket Asda, has a total of 11,600 stores worldwide and it has indicated that it would open more than 300 stores around the world next year. As Chief executive Doug McMillon said - it is necessary to maintain a healthy business. While closing stores is never an easy decision, but it is necessary to keep the company strong and positioned for the future.
There was a time when people in the US looked upon the local Walmart as the go-to destination for certain products, mainly because of an absence of alternatives. However, the growth of online marketing has changed that perspective because of inline entities like Amazon, one has a greater choice of products before him.
(Image courtesy wikimediacommons.org
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