Posted on 03/04/2023 1:41:07 PM PST by grundle
Walmart announced its plan to close its final two locations in Portland, Ore., at the end of March following underwhelming financial results.
“We have nearly 5,000 stores across the U.S. and unfortunately some do not meet our financial expectations,” the corporation said in a statement according to KPTV. “While our underlying business is strong, these specific stores haven’t performed as well as we hoped.”
The closures, which will result in nearly 600 employees being laid off, come after a statement by Walmart CEO Doug McMillion in December 2022 noting that record-breaking retail theft had undercut the company’s economic performance of late.
“Theft is an issue. It’s higher than what it has historically been,” McMillon told CNBC. Prices “will be higher and/or stores will close,” the executive added if Oregon authorities failed to address rampant shoplifting.
Companies shuttering stores in Portland has become increasingly common. Last year a clothing store, Raind PDX, shut down operations with the company specifically citing the cost of doing business in the wake of historic retail theft.
“Small businesses (and large) cannot sustain doing business, in our city’s current state. We have no protection, or recourse, against the criminal behavior that goes unpunished,” a letter posted on the company’s store read. “Our city is in peril.”
(Excerpt) Read more at yahoo.com ...
in before the that’s racisssssss kid.
Oops! National Review, not Fox News. My fault.
Will the city council okay that? 😎👍
Companies shuttering stores in Portland has become increasingly common. Last year a clothing store, Raind PDX, shut down operations with the company specifically citing the cost of doing business in the wake of historic retail theft.
“Small businesses (and large) cannot sustain doing business, in our city’s current state. We have no protection, or recourse, against the criminal behavior that goes unpunished,” a letter posted on the company’s store read. “Our city is in peril.”
Anyone who owns a retail store in a blue city or state today is out of their mind.
I wonder if this isn’t really the plan all along.
Leftists HATE wal-mart and we’re actively trying to ban and block wal-mart from getting into leftist cities.
Perhaps their political army AntiFa is their way of getting what they want because they couldn’t stop it legally.
Hmmmm, wouldn’t a burglary raid on all Portland’s City Council member houses be a riot (in a soooooo good sense)?
Make the SOBs homeless and then sell them drugs to help their street life. DemocRATs deserve it.
Please.
(“Theft is an issue. It’s higher than what it has historically been,”)
Thieves will now resort to other crime.
More places will close.
No-go zones coming.
It is amazing that our “leaders” can enact policy that destroys our lives and we can do nothing but retreat. How about stop the criminals and restor order? And if anybody tries to stop this process using the “law” then sort them out using what ever force THEY make necessary. This power politicians have to openly destroy us, where did they get it?
For some it may be their only source of income
But yes the handwriting is on the wall
It won’t get serious until Popeyes chicken and the liquor stores close.
Some city, maybe Austin, is about to pass a law requiring APPROVAL of chain stores to close in their city. The SMART thing for Walmart and related is to simply close down ALL STORES under their domain, before those laws take effect...likewise the STUPID thing to do is fight in court, figuring they’ll win...since nothing is assured with that approach, particularly with SOROS JUDGES.
They need to sell and get out of there ASAP or they are going to end up losing everything, bankrupt. This is state sanctioned theft
we are in a red city in a blue state.
our law enforcement is top notch, fully funded and fully staffed.
the thugs stay out of town but leaving the state is on my mind.
Liberalism = EPIC STUPIDITY!!!
The stealing is unbelievable there days
Interesting that the left hate WalMart, when it was Hillary who opened the doors of WalMart to China.
Exactly what Guillani did in NYC and he was villified for it. When he was Mayor, Times Square was a decent place to go.
Instead of putting in police officers, cameras, better security, etc., a union run store surrenders to the thieves and inconveniences 99 percent of their customers.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.