With a New Mayor in Chicago, HALF the Walmart Stores Have Closed
Chicago's mayoral-elect Brandon Johnson is in for...a lot. It's not like he doesn't know what's going on in Chicago with the gun violence, and taxes. There's also to businesses leaving. Big, small, in the middle...Businesses are getting up and up of Chicago including Walmart.
In 2022, three major companies – Boeing, Tyson, and Citadel – moved their corporate headquarters' out of Chicago. - Illinois Policy
Walmart has now officially closed HALF of their Chicagoland stores. With a city of that size, this is a huge deal. What is mayoral-elect Brandon Johnson, saying about the big move by Walmart?
"This is something, you know, that Walmart has been doing around the country. It's you know, certainly some reflection of the way business is shifting and changing throughout the country." - Brandon Johnson
While this is true as you can see by the map, Walmart called out Chicago directly about their difficulty:
"The simple explanation is that collectively, our Chicago stores have not been profitable since we opened the first on 17 years ago...these stores lose 10's of millions of dollars a year, and their annual losses nearly doubled in the last five years." - Walmart
Rising crime, high taxes, to overall Chicago atmosphere in recent years...Is the business model "broken" or simply too much in Chicago?
With these Chicago stores closing what will Chicago folks do, that rely on the cheaper needs in these areas? Chicago is more expensive for food and goods, so what happens now?