For a massive chain like Walmart to be closing stores right as we enter the busiest shopping season of the year, something really bad must be going on.
A few weeks ago, the company’s CEO Doug McMillion shared a bleak outlook for holiday sales, and warned investors about a profit squeeze.
But the fact that the retailer is closing multiple locations and leaving several communities without their local grocery stores just before Christmas is suggesting that the situation is far worse than they are telling us.
The truth is that even the biggest retail chain in the U.S. and the world is bleeding money right now. And today, we’re going to expose how deep Walmart’s wounds really are.