Walmart Shafts Again
by Miki Saxon
I loathe Walmart; in fact, it is the only thing I have ever completely boycotted. I’ve never purchased anything there and only set foot inside once, because I was with a friend.
Even when I was in a deep financial hole I found what I needed elsewhere or went without.
I’ve written about Walmart before, but their latest move is truly disgusting.
A few years ago Walmart announced a major expansion into small, rural towns. They claimed their low-cost model would save residents money and create jobs.
As recently as 2014 they claimed these stores were a huge success.
What they were most successful at was forcing long-time grocers to close.
The Town’n Country grocery in Oriental, North Carolina, a local fixture for 44 years, closed its doors in October after a Wal-Mart store opened for business. Now, three months later — and less than two years after Wal-Mart arrived — the retail giant is pulling up stakes, leaving the community with no grocery store and no pharmacy (emphasis is mine).
Oriental residents now face a 50-minute round trip to buy groceries.
Residents in these small towns are often seniors, but fear not; Walmart cares (see sign upper left).
And that scenario is being repeated all over the country.
Oriental is hardly alone. Wal-Mart Stores Inc. said on Jan. 15 it would be closing all 102 of its smaller Express stores, many in isolated towns, to focus on its supercenters and mid-sized Neighborhood Markets.
But never fear; Walmart still cares.
“In towns impacted by store closures, we have had hundreds of conversations with elected officials and community leaders to discuss relevant issues and we are working with communities on how we can be helpful,” said Wal-Mart spokesman Brian Nick.
I’m sure the residents really appreciate those conversations when they are reconfiguring their budgets to account for the additional gas required to drive 50-plus minutes to shop.
But the efforts to burnish its image have never been brighter; the TV ads that brag about how they are investing in their greatest asset — their people — will bring tears (of laughter) to your eyes.
And for those of you who believe that these actions are required to provide the best return to shareholders, consider Walmart’s stock is down 29% in the last 12 months.
Walmart’s stock is $65.8, while Costco, its complete antithesis is $147.02.
Or, as Kyle Murau, a self-described “ruthless, rightwing, baby-eating, blood-sucking capitalist Republican,” said on Quora, “…this just goes to show that publicly traded corporations aren’t, in themselves, evil. It depends how the company’s culture works.”
Flickr image credit: Mike Mozart
