Walmart is permanently closing its last Portland, OR stores, citing a failure to meet financial expectations.
According to KPTV, Walmart plans to close its remaining two Portland locations in late March.
“The decision to close these stores was made after a careful review of their overall performance. 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 Walmart spokesperson said.
While the company officially blamed “financial performance,” Walmart has been struggling with record-breaking theft. Walmart CEO Doug McMillion warned months ago that the company’s financial performance was being negatively impacted as a result.
It’s unclear if crime was a factor in the company’s decision.