Sam’s Closing Stores
I was at a surprise birthday party last night and the initial buzz at the table was our wives discussing the closing of the Sam’s Stores and how it affected their shopping habits (of course they were pretty excited when some of them learned that Sam’s was having a 25% off everything sale!).
Sams’ says it’s managing their real estate for their ever-transforming business. Of course part of their “transforming business” is the relationship between Walmart & Sam’s. Walmart has successfully increased its online presence and is making great strides in E-Commerce. Could it be that their Sam’s Clubs are more profitable now as “last-mile facilities” than they are as clubs?
Industrial is the new retail!
See attached CoStar article: Sams Club Abruptly Closes 63 Stores