#1,647- Walmart closes half of its stores in the 3rd largest U.S. City

After two decades of losses and "hundreds of millions of dollars" invested in Chicago, Walmart is shuttering four unprofitable stores in the metropolitan area, reducing its store footprint by half in the crime-ridden city.  

"The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years," Walmart wrote in a press release. 

Indeed, Walmart has soured on Chicago - the Democratic stronghold that went from a once beautiful metro area into an absolute hellhole. According to Walmart, the decision came after considerable investment in the town.

"Over the years, we have tried many different strategies to improve the business performance of these locations, including building smaller stores, localizing product assortment and offering services beyond traditional retail. We have invested hundreds of millions of dollars in the city, including $70 million in the last couple years to upgrade our stores and build two new Walmart Health facilities and a Walmart Academy training center." 

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