Amazon.com is so incredible it’s able to put the hurt on Wal*Mart. The times, they are a changing. Just goes to show the impact of “voting with the wallet”.
Wal*Mart is closing 269 stores, and 159 of them in the U.S. 102 stores in the U.S. are Wal*Mart Express convenience stores. I applaud the company for the experiment because growth is the formula for success. This is exactly why this development is so alarming. If Wal*Mart’s presence is saturated and the company is already closing stores, there’s no reason to hold on to their stock. It’s time for investors to take a second look at Amazon.
The remaining stores closing are in Latin America, including Brazil and Puerto Rico. As the financial markets show signs of distress and foreign markets experience faltering economies, investors need to pay more attention to impact on retail.