After disappointing financial results, Walmart announced reportedly plans to shutter its remaining two sites in Portland, Ore., at the end of March.
The closures, which would result in the layoff of roughly 600 employees, follow a statement by Walmart CEO Doug McMillion in December 2022 highlighting that record-breaking retail theft has recently damaged the company’s economic performance.
Businesses closing storefronts in Portland are becoming more regular. Raind PDX, a clothes retailer in Portland, Oregon, closed its doors last year, blaming the high expense of doing business in the aftermath of record retail theft.
Similarly, Nike and Cracker Barrel sites will close in 2022, citing identical reasons.
Walmart announced a number of more store closures in late February, including in Florida, Illinois, Arkansas, and Wisconsin.
“We consider many factors, including current and projected financial performance, location, population, customer needs, and the proximity of other nearby stores when making these difficult decisions. After we decide to move forward, our focus is on our associates and their transition, which is the case here.” a spokesman for Walmart said in a statement.
Shoplifting has been an issue for several large businesses with outlets in Portland including outlets like Nike and Target.
[READ MORE: Massive Pro-Trump Bot Network Carrying out Online Attacks on GOP Rivals Discovered]
