Walmart, the largest retailer in the United States, has announced that it will close its two remaining stores in Portland, Oregon, on Friday, March 24, 2023.
The decision comes as the city faces a shoplifting crisis that has affected many retailers and businesses. The company said it plans to shutter the stores at the Delta Park and Eastport Plaza shopping centers, including their pharmacies. The closures will affect nearly 600 employees who will either be laid off or transferred to other locations.
Why is Walmart closing stores in Portland?
Walmart said it is closing the stores after a careful review of their overall performance and financial expectations. The company said it considers many factors when making such decisions, such as location, population, customer needs, and the proximity of other nearby stores.
However, some sources have suggested that retail theft was also a factor in Walmart’s decision. In December 2022, Walmart CEO Doug McMillon warned that shoplifting was an issue that was higher than what it had historically been and that it could lead to higher prices or store closures.
Portland has been struggling with a surge of shoplifting incidents that have harmed retailers and businesses. Earlier this month, Portland police conducted a retail theft “blitz” to crack down on shoplifters throughout the city. Some retailers have also requested permission to post off-duty police officers at their stores to arrest shoplifters.
What Are Your Thoughts?
What do you think about Walmart’s store closures in Portland? How do you feel about the shoplifting crisis in the city? Do you shop at Walmart or other retailers that are affected by shoplifting?
Share your thoughts and experiences in the comments section below!