Walmart has announced it will close about 1,500 of its stores in North America, including about 1.2 million in Canada.
The announcement follows a decision in March to close more than 1,000 stores in Canada and Mexico.
Walmart Canada said it would open fewer than 1 million stores in the United States, including nearly 900,000 in Texas.
Walmart Canada said that it will also cut jobs in Canada, which accounts for about half of its U.S. sales.
Walmart said it will create an equal number of full-time jobs in the U.K. and Ireland.
Walmart announced its decision to close stores in March, saying it wanted to reduce its labor costs and maintain its competitive position.
While it closed a total of 3,000 U.C.M. stores in its second quarter, Walmart Canada is closing fewer stores than other U.A.E. retailers.
“Our business model is based on the premise that our customers want to shop in the same way they shop anywhere else, so we’ve done everything in our power to be able to deliver on that commitment,” Wal-Mart Canada CEO Paul Williams said in a statement.
“Today’s announcement will allow us to continue our efforts to provide the same quality, value and service we provide to our Canadian customers.”
Wal-Mart said it expects the company’s full-year 2016 fiscal year earnings per share to be between $5 and $6.80, with the rest coming from revenue from its U,C.S., Mexico, Canada, and U.Y.A., U.P.
A and U,M.
The company said it plans to invest $4 billion to $5 billion in new stores this year.