Sam's Club closing dozens of stores; some being converted to distribution centers - [Hot news 247]

Sam's Club closing dozens of stores; some being converted to distribution centers
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Sam's Club, the membership warehouse owned by retail giant Walmart, is shutting down or converting 63 stores.

The company attributed the decision to the need to better fulfill online orders, less population growth than expected in some markets and too many competing locations.

The Sam's Club closures were confirmed the same day Walmart said it would lift the hourly minimum wage in the U.S. to $11 and give out bonuses of up to $1,000.
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[Hot news 247]
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