wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market.<br />More than 95 percent of the stores set to be closed in the U.S. are within 10 miles of another Wal-Mart.<br />The Bentonville, Ark., company said it is working to ensure that workers are placed in nearby locations.<br />The store closures will start at the end of the month.<br />Analyst Neil Saunders, CEO of Conlumino, said increased competition from dollar stores hurt the Walmart Express stores.<br />Wal-Mart felt compelled to experiment with the smaller format to try to cash in on a growing trend for shoppers to prefer local stores, but didn’t enjoy the same competitive advantage in the smaller spaces that its big box stores afforded it, Saunders said.
