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RETAIL: Walmart closing Sam's Club in Vista, nine other cities

VISTA ---- Walmart Stores Inc. said Monday it is closing the Sam's Club store in Vista as part of a cost reduction plan that includes closing nine other money-losing outlets and cutting 1,500 jobs. The stores will close Jan. 22.

Three other Sam's Club stores in California are closing, in Irvine, La Quinta and Sacramento. Outside of California, stores are closing in Clay, N.Y.; Louisville, Colo.; Nampa, Idaho; Rolling Meadows, Ill.; Houston and Phoenix.

The Sam's Club in Murrieta will remain open.

Kevin Ham, Vista's economic development director, said 138 people at the Vista Sam's Club are losing their jobs.

"We have already talked to them (Sam's Club) about working with them to place those individuals in existing jobs in the community," Ham said. "We are going to be utilizing our work force development and placement program, where we have a one-stop career center to assist them with job placement."

In addition, the city is already considering new uses for the soon-to-be-vacant building, Ham said.

Ham declined to estimate how much the loss of Sam's Club would affect Vista's sales tax revenue, saying that tax revenue from individual businesses is confidential.

Sam's Club CEO Brian Cornell said in a statement that the company is trying to find jobs at other Sam's Club or Walmart locations for workers who lost their jobs. Walmart owns the Sam's Club warehouse stores chain.

Walmart, based in Bentonville, Ark., says it plans to disclose the financial details of the closures when it announces its fourth-quarter results Feb. 18. It does not anticipate any significant effect on its fourth-quarter profit.

Call staff writer Bradley J. Fikes at 760-739-6641. Read his blogs at bizblogs.nctimes.com.

Article From : http://www.nctimes.com/business/article_1a102855-12ba-5691-aa52-90dab60ad620.html
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