Sam’s Club (Bentonville, Ark.) is looking to transform its business with a new strategy that started with the closure of several warehouse stores across the country this past month.
Chief executive officer, John Furner, explained by closing those “underperforming” stores, the business can fine-tune its existing stores and shift toward more affluent customers. Specifically, it plans to target families with children that have annual incomes between $75,000 and $125,000.
That insight came after conducting research and studying purchasing behavior that shows that many shoppers classified as small-business buyers actually bought more products for their homes, according to The Wall Street Journal.