By Shrinking, Can Sam's Club Keep Up With Costco?

Sam’s Club hopes fewer stores help the warehouse retailer attract more-affluent shoppers.

This month, the Wal-Mart Stores Inc. chain closed 63 U.S. Sam’s Club locations. The closures cut about 10,000 jobs and are the largest since Wal-Mart founder Sam Walton opened the first Sam’s Club in 1983. Wal-Mart says some of those workers will get jobs in other stores.

The…