January 12, 2018 / 2:49 AM / 11 days ago

BRIEF-Wal-Mart says Sam's Club to close 63 clubs around the country

Jan 11 (Reuters) - Wal-Mart Stores Inc:

* WALMART - SAM‘S CLUB ANNOUNCED CHANGES TO THE BUSINESS UNIT‘S U.S. REAL ESTATE PORTFOLIO, WITH THE CLOSURE OF 63 CLUBS AROUND THE COUNTRY

* WALMART - CURRENTLY, CO AND SAM’S CLUB OPERATE OVER 5,400 LOCATIONS ACROSS U.S.; AFTER ACTIONS ANNOUNCED JAN 11, THE COMPANY WILL HAVE 597 CLUBS

* WALMART - CO WILL CONVERT UP TO 12 IMPACTED CLUBS TO ECOMMERCE FULFILLMENT CENTERS, WITH BALANCE OF THE FACILITIES CLOSING OVER THE NEXT FEW WEEKS

* WALMART - WILL RECORD DISCRETE CHARGE OF ABOUT $0.14/SHARE RELATED TO ACTIONS ANNOUNCED ON THURSDAY, WITH VAST MAJORITY OF IT IN Q4

* WALMART - WILL PROVIDE SUPPORT AND RESOURCES TO AFFECTED ASSOCIATES, INCLUDING BONUS ANNOUNCED JAN 11, 60 DAYS OF PAY, SEVERANCE TO THOSE ELIGIBLE‍​ Source: bit.ly/2qX36eU Further company coverage:

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