2Walmart markets closing in Colo.
Retailer reviewing its portfolio to compete more effectively
Two Denver- area Walmart Neighborhood Market grocery stores are among the 269 locations slated for closure by the world’s largest retailer.
The Neighborhood Market at 8196 W. Bowles Ave., off South Wadsworth Boulevard in unincorporated Jefferson County, will close at 7 p. m. Sunday. A store at 2253 S. Monaco Parkway, just south of Evans Avenue in Denver, will shutter at 7 p. m. Jan. 28, Walmart announced Friday.
The closures, which include 154 U. S. stores, represent a little more than 2 percent of Walmart’s global store base. They come as the retailer reviews its portfolio to better compete against traditional retailers, as well as Amazon. com.
Walmart is axing all of its Walmart Express locations.
More than 95 percent of the U. S. locations are within 10 miles of another Walmart location, officials said.
The West Bowles store is within a six- minute drive of a Sam’s Club, a Walmart Supercenter and another Neighborhood Market. The Monaco Parkway store is within 3 miles of another Neighborhood Market.
Walmart has 105 stores in Colorado. The company plans to open two stores this year, said spokeswoman Anne Hatfield.
In all, about 16,000 workers will be affected by the closures. The 190 employees at the West Bowles and South Monaco stores will be given priority for open positions at nearby stores, Hatfield said.
If employees do not land another position with the company, they’ll receive pay until Feb. 10 then for an additional 60 days. Employees who have worked for Walmart for more than a year will be eligible for a severance package.
The Neighborhood Market concept has been Walmart’s entrance into the traditional grocery space. The stores average 42,000 square feet.
Overall, the Denver area has been a good market for grocery stores, said Carolyn Martinez, associate director with Newmark Grubb Knight Frank in Denver.
Specialty grocers Trader Joe’s, Sprouts and Lakewood-based Natural Grocers by Vitamin Cottage are all rapidly growing their footprint in the area. A Trader Joe’s is set to open this year across the street from the Walmart closing on Bowles.