Walmart will close its Walmart Neighborhood Market in Pinellas Park, the company announced Wednesday.
The Arkansas-based retailer said the store “did not meet our financial expectations” after a review. The store on 6900 U.S. Highway 19 N in Pinellas Park is set to close March 10.
Walmart has more than 5,000 stores nationwide and 380 stores, including Sam’s Club locations, in Florida. There are seven Walmart Supercenters and five Neighborhood Market stores in Pinellas Park. The U.S. 19 Neighborhood Market has 71 employees - officials said they’re eligible for transferring to another store.
Retailers across the nation have been bracing for a recession. Walmart said it in its 2022 annual report that economic pressures from COVID-19 and inflation could affect consumer spending in the next year. Walmart CEO Doug McMillion said in a CNBC interview in December that there could be more store closures nationwide due to a rise in retail theft, though Walmart did not cite that as a reason for the Pinellas Park closure.
There are no other closures Walmart planned in the Tampa Bay area, said Walmart communications director Brian Little in an email.
“We are grateful to the customers who have given us the privilege of serving them at our 6900 U.S. Highway 19 N, Pinellas Park location. We look forward to serving them at our other stores in the surrounding communities and on walmart.com,” he said.