Wal-Mart stores Canada’s largest pharmacy will close for good, company says

WASHINGTON (Reuters) – Wal-Marts Canada said on Wednesday it was closing its Canada’s biggest pharmacy as part of a deal with its Canadian partners to lower costs and improve customer service.

The move comes just a week after Wal-mart said it would cut 400 jobs in the United States to reduce costs in the wake of the shooting at a movie theater in Aurora, Colorado.

Wal-Mart Canada said the closing of the Wal-Mac Pharmacy will result in approximately 50 new jobs and a reduction in costs by approximately $2.5 million in the first year.

Walmart Canada, which also operates grocery stores, will continue to offer its existing customers a variety of Wal- Mac products including bulk food, grocery, grocery delivery and grocery.

Walton M. Denny, Wal-Mc’s chairman and CEO, said in a statement that the decision is part of WalMart Canada’s strategy to be more efficient and better serve its customers, while making it more attractive to those looking for an affordable alternative to the national chain.

WalMart Canada has about 500 stores in Canada.

The announcement comes just days after WalMart said it planned to lay off about 3,400 employees in the U.S. in a push to bring down costs.