Walmart is set to close their last two stores in Portland, Oregon due to the high volumes of shoplifting and crime that continues to plague the city.
According to the New York post, the closures are set for March 24. The CEO of Walmart Doug McMillon, said the stores have seen a sharp increase in ‘shrink’ which is another way of saying that they are seeing a loss in profit and product due to shoplifting.
According to reports, McMillon said,“Theft is an issue. It’s higher than what it has historically been,” he continued, “I think local law enforcement being staffed and being a good partner is part of that equation. … If that’s not corrected over time, prices will be higher, and/or stores will close.”
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