The final two Walmart locations in Portland, Oregon are permanently closing their doors by the end of March 2023. This news comes on the heels of Walmart CEO, Doug McMillon, issuing a warning about crime and theft. The official reason for the remaining Portland stores closing is a failure to meet financial expectations. This reason could be interpreted in at least a couple of different ways.
The closing Walmart locations may simply be in too “poor” of an area and people simply cannot afford to shop as much as required to keep the stores profitable. The other, more likely reason is that the stores are experiencing a very high level of shoplifting which will obviously undercut the bottom line. Theft is a problem that is plaguing the entire city. Mom-and-pop shops across Portland are having to shutter for that very reason.
Crime, aside from petty theft and grand larceny, is also an issue in the city. Combine a lack of safety with low to no profits, then it is a no-brainer for Walmart to exit the city. There are, however, 17 Walmart locations in the Portland area. The two locations that closed are simply the final locations within city limits. People who rely on the closing Walmarts typically live in poorer areas, so they will now have to travel further in order to get the same goods and prices as before.
SOURCES:
All Walmart stores in Portland to permanently close
Walmart to shutter Portland locations just months after CEO’s warnings on crime | Fox Business
All Walmart stores in Portland to permanently close
Walmart Closing ALL of Their Portland Oregon Stores
Crime turned Portland into a ‘hollowed out shell.’ Its neighbors are trying to keep it from happening to them | Fox News
Portland, OR Police charge man with rape, say other victims possible
Store at Washington Square plans to close due to chronic theft | kgw.com
