Sam's Club Closing

[DWalt]

But not all of them. I think over 60 nationwide.

The one closest my house in San Antonio is one of them. No warning, but just an announcement yesterday it was closing. Big sale today, 25% off everything in the store. Talk about buzzards on carrion. I went this morning to see what I could pick up, and so did about 10,000 others ahead of me. Imagine the worst possible Black Friday sale situation, then multiply it by 10. I have never seen anything like it. I turned around and left.

 

[Coldshooter]

Many small businesses such as coffee shops, food trucks and the like as well as churches and civic organizations depend on Sam's Club for paper consumables. The increased costs will push some to the edge of profitability in areas where there is no similar source.

 

[wingriderz]

Was a member back about 15 years ago. Never really used it all that much

 

[2ffat]

The announcement I read said that most of the stores being close will become distribution centers. I'll see if I can find the post.

 

[DWalt]

I have seen several things about the future uses for closed Sams Club stores, but nothing definite. Seems to me that most Sam's Club locations would not have enough floor space to work as efficient distribution or fulfillment locations, at least not on the scale that a company like Wal-Mart would require. Those types of facilities are usually far larger. Locally, WM already has an enormous warehousing/distribution center on I-35 just north of San Antonio. I guess time will tell what they have in mind.

 

[StakeOut]

The one about a mile from me in NW Austin is not on the list nor is the one a little further.
I took a look around inside and out the Sam's Club with gas station after a cheap membership offer on Groupon but decided to just keep my Costco membership.There's 2 Costco stores near me and both have gas stations.

Costco pricing is not like it used to be and many items I bought have been discontinued or only on line but the savings at the pump pays the membership fee.I buy much less at Costco than I used to.

 

[DWalt]

I liked Sam's because it is only a few minutes away from my house. The next closest one is at least a 20 minute drive away. I avoid Costco as they have a very anti-gun management. Plus the hot dogs at Sam's are better and cheaper. I will really miss the Sam's Club hot dogs and pizza - the best and least expensive place in town for both.

 

[Chubbo]

"What goes around comes around". Wal-Mart will be next.

Chubbo

 

[TTSH]

I am a long-time WalMart stockholder. They talked about this in the last annual report. Sam's Club was not doing so well.

It's funny how Walmart can do so well in its Walmart stores but not be profitable in so many of its Sam's Club stores... but that has been the case up near me practically forever. My two closest Sam's Clubs closed many years ago. Now, the nearest ones are an hour or more away. BJ's and CostCo beat the pants off Sam's Club wherever the two compete.

 

[mtgianni]

I am sure Amazon takes a piece of things too. I have never set foot in one as the closest is 200 miles away. With Costco's card paying about $250-$300 for us most years why would i pay to go somewhere else?

 

[DWalt]

I bought some Wal Mart stock almost 25 years ago. I get somewhat more in dividends each year today than what I paid for the stock back in 1993. And the stock is now selling for more than 20X what I paid for it. And indeed Sam's Club's performance has been sort of a financial drag on the rest of the chain. I wish I had bought a lot more WMT.

 

[DWalt]

I notice Sears got some additional funding yesterday to keep them going a while longer. At least they have a chance. I'd really hate to see Sears go under, but I still think it is inevitable.

 

[vonn]

People shop at brick and mortar stores and then buy online for cheaper prices when they have the right sizes etc. When there aren’t enough stores showing the merchandise the returns and the costs associated with that will impact the online sales prices. The tax structure will have to hit the online sellers harder so the tax base doesn’t crash as well. Huge tax advantage to online sellers.

 

[armadillo]

I used the same Sam's in San Antonio sometimes. But when they opened the new one 3-4 miles north on 281, I knew the old one was a goner. I will go to the one on IH-10 rather than fight Stone Oak traffic.

 

[Delta Expatriate]

I saw the story about the Sams closing this morning, and hoped my local one was not among those closing. I had already planned on going to my local Sam's (Madison, MS) this afternoon. I found it open so it must not have been among the casualties. I have never been to a Costco's, but there is one scheduled to open just a few miles away in Ridgeland soon. It will be interesting to see what the competition is like.

 

[rwsmith]

They turned......

They turned a big store that closed here into a boat/trailer storage facility.

I've never been a member of Sam's. Just never got into it.

 

[MCorps0311]

Now the dominoes begin to fall in jobs,after the great tax break! lol

 

[Wingmaster]

I have never been a member of Sams.

I always had a problem with the concept of having to pay to shop at their store. It makes no sense to me.

Wing master

 

[H Richard]

I was just in our local Sam's club last week, and the manager was having a staff meeting in the eating area just off from the cashiers. I could overhear what was going on, and he had just announced their store "netted" $1.2 million last year. That's not a huge amount, but probably sufficient to keep their doors open for another year.

I enjoy the store, as I shop in off times when they aren't so busy, and they have good prices, however not always the best prices. But I save enough on gas to make myself smile every time I fill up, usually .20 to .25 cents per gallon lower than any other station. Now if they just sold guns and ammo.

 

[LostintheOzone]

Now the dominoes begin to fall in jobs,after the great tax break! lol

I have a feeling it won't be just jobs.

Health care will be the next big hit.

No free lunches as they say.

No Sams clubs around here but we have a Walmart. Gang banger central. I won't shop there.