• Walmart announced that it plans to close its two Portland, Oregon, stores, saying that "unfortunately some do not meet our financial expectations … While our underlying business is strong, these specific stores haven’t performed as well as we hoped.”
While Walmart didn't specifically blame retail theft for the closures, local press coverage suggests that the crime problem in the Portland area likely is responsible for the decision. CEO Doug McMillion has made the point that retail theft was having a negative impact on the company's performance, and that stores might have to be closed in certain cases.
