Walmart shuttering half its Chicago stores

Collectively Walmart's Chicago stores have not been profitable since the company opened the first one nearly 17 years ago. These stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years. As a result four of its eight Chicago locations will close to the public by Sunday, April 16.

"The remaining four Chicago stores continue to face the same business difficulties, but we think this decision gives us the best chance to help keep them open and serving the community," the company said in a statement.

Walmart said it has tried many different strategies to improve the business performance of these locations over the years, including building smaller stores, localizing product assortment and offering services beyond traditional retail. It has invested hundreds of millions of dollars in the city, including $70 million in the last couple years to upgrade stores and build two new Walmart Health facilities and a Walmart Academy training center.

"It was hoped that these investments would help improve our stores’ performance," the company said. "Unfortunately, these efforts have not materially improved the fundamental business challenges our stores are facing."

All associates in the closing stores are eligible to transfer to another Walmart location. Hiring managers from surrounding facilities will be in each of these stores this week to help associates begin finding their next opportunity.