Newly laid off Sam's Club employees have turned to BJ's Wholesale, Inc. for work after Wal-Mart (WMT), the retailer's parent, announced it was closing more than 60 locations across the country on Thursday.
The Loveland, Ohio store on Fields-Ertel Road and the Oakley, Ohio store on Marburg Avenue both permanently closed Thursday, Sam's Club spokesperson Anne Hatfield told Cincinnati-based WCPO. Each Sam's Club warehouse employs about 175 people, meaning more than 11,000 people could be affected, according to the online news site Business Insider. The only other Florida store on that list was in the town of Fern Park, near Altamonte Springs. The company cited tax legislation that will help it save money, but the moves also reflect the tight labor market in which employers are competing for workers.
"We've chose to right-size our fleet and better align our locations with our strategy, " he wrote.
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Several Sam's Club stores throughout the nation reportedly closed Thursday without notice to the public.
Some stores will be converted into regional distribution centers, but employees who worked there are not necessarily guaranteed jobs at the distribution center.
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The 53-year-old added: "The percentage that would vote to leave next time would be very much bigger than it was last time round". An EU diplomat has told the United Kingdom to "stop dicking around" following news that a second referendum may be on the cards.
Sam's Club President and CEO John Furner issued a statement saying some locations were in areas that did not experience the population growth that was expected.
"We will be closing some clubs, and we notified them today".
Sam's Club membership fees - which cost $45 annually - will be refunded to customers affected by the closings, according to the BI report.
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Gabelli Funds Limited Liability Corp reported 0.45% stake. 1 is equivalent to a buy rating, 3 a hold rating, and 5 a sell rating. Following the transaction, the vice president now directly owns 291,385 shares of the company's stock, valued at $24,199,524.25.
Because of the tax reform law, Walmart says it's also creating a new benefit to assist associates with adoption expenses. The one-time bonus represents a payment of about $400 million in the current fiscal year, which ends January 31.
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Finally, ValuEngine raised Wal-Mart Stores from a "hold" rating to a "buy" rating in a research report on Sunday, December 31st. Tctc Limited Liability Co holds 134,026 shares or 0.65% of its portfolio. (NYSE: WMT ) rating on Monday, October 2.