On the same day Walmart announced it is raising its minimum wage and giving one-time bonuses to certain employees, the company quietly closed 63 members-only Sam's Club stores across the United States.
In announcing the new $11 minimum wage and bonuses, Walmart president and CEO Doug McMillon said on Thursday that "tax reform gives us the opportunity to be more competitive globally and to accelerate plans for the U.S.," with Walmart shelling out $300 million for wage increases and $400 million for bonuses. After this was reported with much fanfare, Sam's Club announced that following "a thorough review of our existing portfolio, we've decided to close a series of clubs and better align our locations with our strategy."
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