Walmart announced it is permanently closing all of its locations in Portland, Oregon, over financial reasons.
“We have nearly 5,000 stores across the U.S. and unfortunately some do not meet our financial expectations,” Walmart said in its announcement, according to KPTV. “While our underlying business is strong, these specific stores haven’t performed as well as we hoped.”
Both Walmart locations at Hayden Meadows and East Port Plaza will officially close on March 24.
The employees at the locations will have the option to transfer to Walmart locations outside the city, KPTV reported. Pharmacy staff will also work with customers on transferring their prescriptions to nearby Walmarts.
The announcements come just a few months after the Walmart CEO warned stores could close and prices could increase in light of sky-high retail crimes affecting stores across the country.
“Theft is an issue. It’s higher than what it has historically been,” Walmart CEO Doug McMillon said in December on CNBC. He added that “prices will be higher and/or stores will close” if authorities don’t crack down on prosecuting shoplifting crimes.
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