Unconfirmed reports indicate that the roughly 600 employees currently working at the two Walmart stores slated to close in Portland will be given the option to relocate to other nearby locations.
Walmart CEO Doug McMillion said in December 2022 that the company’s economic performance was negatively impacted by record-breaking retail theft. McMillion said theft levels are higher than they’ve ever been in history, and if Oregon officials don’t address rampant shoplifting, the company will be forced to raise prices or close stores.
Store closings in Portland have become a common trend among companies, with many businesses citing cost of doing business as a major factor in retail theft. Last year, Rain PDX, a clothing store closed, and Nike and Cracker Barrel locations are also closing their doors in 2022.
Retail chains across the country have faced challenges related to theft in recent years, with the National Retail Federation predicting a 26.5% increase in organized retail crime by 2021, resulting in significant financial losses for businesses.
In addition to this national issue, Portland has seen a significant increase in violent crime over the past few years. According to a recent study, the violent crime rate increased significantly in 2020 when the city experienced repeated protests and violence.
More Walmart store closings for 2023
Walmart plans to close eight retail locations in the United States due to poor financial performance.
The store closings will affect locations in six states across the country. The company’s pickup-only concept store at 3701 SE Dodson Road in Bentonville, Arkansas will close. In the District of Columbia, the Walmart store at 99 H Street NW in Washington will close its doors. The Florida Walmart Neighborhood Market concept store located at 6900 US Highway 19 North in Pinellas Park will close.
Three Walmart stores in Illinois will close: 17550 South Halsted St in Homewood, 12690 S. Route 59 in Plainfield and 840 N. McCormick Blvd in Lincolnwood, all regular stores, except the McCormick Blvd location. Only up to concept store. The New Mexico Walmart store at 301 San Mateo Blvd. SE in Albuquerque will close, and in Wisconsin, the store at 10330 W. Silver Spring Dr in Milwaukee will also close.
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