Walmart closes all stores in Portland: before that, the company talked about a large number of thefts

Walmart has announced that it is permanently closing all of its stores in Portland, Oregon for financial reasons. Writes about it Fox Business.

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“We have approximately 5000 stores in the United States and, unfortunately, some of them are not meeting our financial expectations,” Walmart said in a statement. “While our core business is strong, these specific stores are not performing as well as we had hoped.”

Both Walmart stores at Hayden Meadows and East Port Plaza will officially close on March 24.

Employees in these locations will have the opportunity to transfer to Walmart stores outside the city. Pharmacy staff will work with customers to transfer their prescriptions to nearby Walmart stores.

There are 17 other Walmart stores outside of Portland and Vancouver. The closure will affect a total of 580 employees.

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"We are grateful to the customers who have given us the honor of serving them at Hayden Meadows and Eastport Plaza," the announcement reads.

The main retail store announced other closures in the US, including Arkansas, Florida, Washington DC, Wisconsin, New Mexico and Illinois.

The announcements come just months after Walmart's CEO warned that stores could close and prices could rise in light of sky-high retail crime affecting stores across the country.

“Theft is a problem. And there are more than ever,” Walmart CEO Doug McMillon said in December. He observed that "prices will be higher and some stores will close" unless the authorities crack down on shoplifting.

A Walmart spokesperson said "there is no single reason for the store's closure."

“We are conducting a thorough review of how a store operates and weighing many factors before making the difficult decision to close a location,” the spokesperson explained. “We consider many factors, including current and projected financial performance, location, population, customer needs and the proximity of other nearby stores when making these difficult decisions. We are now focused on caring for our employees during this transition and working with our customers."

Walmart's announcement came after other stores in Portland closed, many of which specifically cited crime.

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The clothing store, called Rains PDX, closed permanently in November 2022 after a string of break-ins that caused the store to go bankrupt. The owner of the store even hung an angry note on the door denouncing the level of crime in the city.

“Our city is in danger,” it says. “Small businesses cannot sustain business in the current state of our city. We have no defense or remedy for criminal behavior that goes unpunished. Don't be fooled into thinking that insurance companies will cover losses. We have been hacked 15 times and have not received any financial compensation.”

A Nike store in Portland also closed late last year due to widespread theft there. The Cracker Barrel store also closed abruptly last year, with employees citing safety concerns.

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