The closure of some Sam’s Club locations is a good move for Walmart, the retail giant’s former U.S. chief Bill Simon told CNBC on Thursday.
Walmart, which owns Sam’s Club, announced on Thursday it is shutting down or converting 10 percent, or 63 of the membership-only retail warehouse stores around the country.
“It’s allowing them to focus on things that are working,” Simon said on “Closing Bell.”
The things that are working for Walmart, according to Simon, are the Walmart branded brick-and-mortar stores and its online shopping destination.
“This is endemic of the transition that retail is in,” said Simon, who served as president and CEO of Walmart U.S. from 2010 to 2014.
“Retailers who figure out a sweet spot, or something they need to be…