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A Blog Post

Sam’s Club Abruptly Closes 63 Stores

Sam's Club, a division of Wal-Mart Stores Inc. (NYSE:WMT), abruptly posted closure notices on 63 of its stores across the country yesterday. The closings impact about 10% of its fleet of 660 clubs and are expected to affect about 10,000 employees, according to various media reports. The action was taken after a thorough performance review. "Transforming our business means managing our real estate portfolio and Walmart needs a strong fleet...