Monday, January 29, 2018

By Shrinking, Can Sam’s Club Keep Up With Costco?

Wall Street Journal

This month, the Wal-Mart Stores Inc. chain closed 63 U.S. Sam’s Club locations. The closures cut about 10,000 jobs and are the largest since Wal-Mart founder Sam Walton opened the first Sam’s Club in 1983. Wal-Mart says some of those workers will get jobs in other stores.

The closures aren’t only a result of retail’s rapid shift online, but are part of a strategy pivot by new Sam’s Club Chief Executive John Furner to turn what has long been Wal-Mart’s underperforming sibling into a retailer that can rival its most successful competitor, Costco Wholesale Corp.. . . more