"We are early in the stages of assessing the opportunities tax reform creates for us to invest in our customers and associates and to further strengthen our business, all of which should benefit our shareholders", McMillon said.
The Sam's Club stores in Cheektowaga and Niagara Falls will remain open.
The Walmart official said it would too soon to know how many jobs would be eliminated with the Sam's Club closures.
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Walmart has yet to release a list of affected stores, or the number of employees affected.
The US retailing giant presented a bitter-sweet pill for its workforce as it also announced an increase in minimum wages.
Company officials say they're also accessing other potential additional investments for employees that could come after the new tax laws.
The announcement came on the same day that Walmart said it is boosting its starting salary for USA workers and handing out bonuses. The one-time bonus represents an additional payment to associates of approximately $400 million, Walmart said. "Now, they will be eligible for 10 weeks of maternity leave at 100 percent pay and six weeks of parental leave at 100 percent pay". "If this tax package is to work, it will work because it galvanizes companies to spend on capital to get capital deepening, give workers the tools to actually get paid more because they're more productive".
Hundreds of employees all over Texoma are getting a $1 raise starting next month.
The wage change is in addition to increases already planned for many USA markets in the coming fiscal year. The company cited tax legislation that will help it save money, but the moves also reflect the tight labor market in which employers are competing for workers.