2 Wal-Mart stores in Bay Area among list of closures
OAKLAND, Calif. (KTVU and AP) - Two Wal-Mart stores in the Bay Area are among the list of 269 stores closing in the U.S.
One of the Bay Area stores is in Oakland and one is San Jose.
The Oakland store on Edgewater Drive will close Sunday, while the store on Monterey Highway in San Jose will close January 28.
Another big chunk of stores are closing in Wal-Mart's challenging Brazilian market.
The stores being shuttered account for a fraction of the company's 11,000 stores worldwide and less than 1 percent of its global revenue.
The closures will affect 16,000 workers, 10,000 of them in the U.S.
The announcement comes three months after its CEO Doug McMillon told investors the world's largest retailer would review its store fleet in amid increasing competition from all fronts, including from online rival Amazon.com.
In the U.S., 154 locations will be closed, most of them small format stores called Walmart Express, which were launched as a test program in 2011. The remaining 115 locations to close are spread over Latin America, mostly in Brazil.