A Sam's Club store on the city's south side at 340 E. Edgewood Boulevard will close on January 26, a company spokesperson confirmed Thursday.
The company is also creating a new benefit to assist employees with adoption expenses.
The locations, along with 10 other stores across the country, will close on February 3.
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The move came on the same day that Walmart boosted starting pay to $11 an hour and offered one-time bonuses to some of its employees.
Sam's Club now has 597 store locations in 46 states, compared to BJ's, which operates 215 clubs and 133 BJ's Gas locations in 16 states across the country.
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The fund owned 919,468 shares of the specialty retailer's stock after purchasing an additional 306,950 shares during the quarter. Following the sale, the director now owns 108,957 shares of the company's stock, valued at approximately $253,869.81.
Though Walmart reported that Sam's Club's sales rose 4.4 percent in the most recently completed quarter, the company said that the closures will free up resources that can be focused on bolstering its website as well as in-store technology, USA Today reported.
According to Sam's Club spokeswoman Amy Wyatt-Moore, 10 of those 63 stores will repopen as eCommerce fulfillment centers, the first of which will open in Memphis, Tennessee.
The statement said that following a full review of its portfolio, the company made a decision to close several clubs to better align our stores with our ongoing strategy. Employees who have worked for at least 20 years will get the full $1,000.
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"The closing location is owned by Sam's, and I am talking to them about potential economic development on that site", Manzi said.
Hundreds of employees all over Texoma are getting a $1 raise starting next month.
Although Wal-Mart's move lifts its overall starting US wage from $10 an hour (after workers take a training course), the increase matches what's already the minimum wage in California.
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Full-time hourly employees will also become eligible for 10 weeks of paid maternity leave and six weeks of paternity leave, along with financial assistance to associates who adopt a child.