Walmart announced it would permanently close all of its Portland, Oregon locations due to financial concerns.
“We have nearly 5,000 stores in the US and unfortunately some are not meeting our financial expectations,” Walmart said in its announcement, according to KPTV. “While our underlying business is strong, these particular businesses have not performed as well as we had hoped.”
Both Walmart locations in Hayden Meadows and East Port Plaza will officially close on March 24th.
Employees at locations have the option to transfer to out-of-town Walmart locations, KPTV reported. Pharmacy staff will also work with customers to transfer their prescriptions to nearby Walmarts.
PORTLAND STORE CLOSES, POST BLISTERING NOTE ON FRONT DOOR SLATING RAIL CRIME: ‘CITY IS IN DANGER’
There are 17 other Walmart locations outside of Portland and Vancouver. A total of 580 employees were affected by the closures, reported KGW8.
“We are grateful to the customers who have given us the privilege of serving them at our Hayden Meadows and Eastport Plaza locations,” the announcement added.
Retail announced additional closures across the US including in: Arkansas, Florida, Washington, DC, Wisconsin, New Mexico and Illinois.
PORTLAND RESTAURANT OWNER BLAME DEMOCRATS FOR BUSINESS FAILURE
The announcements come just months after the Walmart CEO warned stores could close and prices soar amid skyrocketing retail crime rates affecting stores across the country.
“Theft is a problem. It’s higher than in the past.” Walmart CEO Doug McMillon said on CNBC in December. He added that “prices will be higher and/or shops will close” if authorities don’t crack down on shoplifting.
WALMART CEO DOUG MCMILLON SAYS THEFT IS ‘HIGHER THAN WHAT IT WAS IN HISTORY’
A Walmart spokesman told Fox News Digital when asked about McMillon’s comments that “there’s not a single reason why a store closes.”
“We conduct a thorough review of a store’s performance and weigh many factors before making the difficult decision to close a facility,” the spokesman said.
“We consider many factors when making these difficult decisions, including current and projected financial performance, location, population, customer needs and proximity to other nearby stores. Our focus right now is on mentoring and working with our employees during this transition to help customers move their pharmacy and other purchases to nearby stores.”
Walmart’s announcement comes after other Portland stores shut down, many of which specifically cited crimes.
A clothing store called Rains PDX shut down for good in November after suffering a series of burglaries that financially ruined the business. The store owner even posted a nasty note on the store’s doors slamming the city’s crime rate.
“Our city is in danger,” read a printed note posted to the Rains PDX store. “Small businesses (and large ones) cannot continue to do business in the current state of our city. We have no protection or recourse against criminal conduct that goes unpunished. Don’t be fooled into thinking insurance companies cover losses. We’ve suffered 15 burglaries…we haven’t received any financial reimbursement since the 3rd.”
CLICK HERE TO GET THE FOX NEWS APP
A Nike store in Portland was shut down late last year after rampant shoplifting, while a Cracker Barrel was shut down abruptly last year, with employees citing safety concerns.