The Sam’s Club in Louisville will close this month because of poor financial performance. The location is one of 10 nationwide that the warehouse chain is closing. About 1,500 employees will be affected by the closures, according to a statement issued by the company, owned by Wal-Mart.
“Despite the outstanding efforts of our associates, these clubs continued to lose money and we have decided to close them,” Sam’s Club chief executive Brian Cornell said in a letter to employees.
Wal-Mart says it plans to disclose the financial details of the closures when it announces its fourth-quarter results Feb. 18. It does not anticipate any effect on its fourth-quarter profit.
Signs have been posted on the Louisville store’s doors indicating that it will close Jan. 22. Its pharmacy is expected to stay open until Jan. 25. Denver Post staff and wire reports
