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Sam's Club closes hundreds of stores nationwide

Sam's Club closes hundreds of stores nationwide

So on the same day Walmart announced increased pay for about a million of its 1.2 million U.S. employees, the company shuttered dozens of locations as pressure from Amazon (AMZN) and other ecommerce players weights on its core brick-and-mortar stores.

Channel 2 News reached out to the Walmart corporation for information on whether the closing Sam's Club stores will now hold liquidation sales and if employees are being offered severance packages.

Sam's Club CEO John Furner notified employees of the closures in a company-wide email sent out on Thursday, Business Insider reported.

All of the Sam's Club closings were removed from the company's website Thursday morning.

After a thorough review of our existing portfolio, we've decided to close a series of clubs and better align our locations with our strategy.

Walmart is boosting its starting salary for U.S. workers to $11 an hour, giving a one-time $1,000 cash bonus to eligible employees and expanding its maternity and parental leave benefits. Many of our associates and members will move to nearby clubs. The payouts, which should total roughly $400 million, will result in a one-time charge that the company will take in its fiscal fourth quarter.

Zanitsch is talking about a letter telling him that the store where he's worked for eight years is closed. So competitive is the market that Morgan Stanley reckons in most cases only 50 percent of what retailers save in tax will make it back to investors.

Forsythe says Sam's Club neighbor, Menards, left the city in a similar situation a few years back.

Customers who use the Sam's Club pharmacies will be able to use the ones at the Oakley and Loveland locations until Jan. 26.

Ginger Thompson has been a longtime fan of Sam's Club, and she drived 28 miles from Dublin to shop at the Lumberton store.

A part of Target's plan to compete with Amazon rests on investing in its store associates.

With or without a tax cut, pressure to increase worker pay has been building in the economy and the retail sector.

But the world's biggest retailer and the biggest private US employer is also shutting some Sam's Clubs stores around the US, the company confirmed.

Up to a dozen of the 63 stores will become e-commerce fulfillment centers to help support e-commerce efforts, the company said.

After shutting down Thursday, the store will re-open Friday.

"It's kind of disappointing because Sam's is a good store", another added. The second week of the new tax year is a little early to be declaring victory.