• Walmart announced that the company will be closing four stores in Chicago’s crime-ridden South Side and West Side sections.
• The retail giant announced the closures on Tuesday, citing lack of profitability as the main reason for shuttering the stores. The neighborhoods in which Walmart announced the closures — Chatham, Kenwood, Lakeview and Little Village — have long-struggled with crime and violence.
• “The simplest explanation is that collectively our Chicago stores have not been profitable since we opened the first one nearly 17 years ago – these stores lose tens of millions of dollars a year, and their annual losses nearly doubled in just the last five years,” Walmart said in a statement.

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