The company owns 11,000 stores, and the stores being shut account for only about 1 percent of global revenue.
The retailer will open up to 405 stores in the coming fiscal year, in an attempt to focus more on Supercenters and Neighborhood Markets.
Officials also said 95 percent of the soon-to-be-closed stores are within 10 miles of another store. The Arkansas-based company plans to relocate workers from the shuttered branches to nearby stores. Read more at ABC News.