Why are Walmart stores closing in Portland Oregon?

Walmart announces the closure of the final two stores in Portland, Oregon  (Image via Sundry Photography/Getty Images)
Walmart announces the closure of the final two stores in Portland, Oregon (Image via Sundry Photography/Getty Images)

Walmart is all set to shut down operations in Portland, Oregon, as the company announced the closure of its final two locations. The retail store chain has cited underwhelming financial results as one of the crucial reasons behind the closure. The last two stores that have been operating in the region will be shut down by the end of March.

The two retail stores located at Hayden Meadows and East Port Plaza will stop offering their services to the public by March 24, 2023. While employees at the two stores will be transferring to locations outside the city, customers may have to look for other alternatives for their retail shopping needs.

Walmart stores at Hayden Meadows and East Port Plaza to officially shutter down starting March 24, 2023 (Image via Robyn Beck/ AFP/ Getty Images)
Walmart stores at Hayden Meadows and East Port Plaza to officially shutter down starting March 24, 2023 (Image via Robyn Beck/ AFP/ Getty Images)

The retail store chain announced the closure of the two stores in Portland, Oregon, through a statement to the press, quoting:

"We have nearly 5,000 stores across the U.S. and unfortunately some do not meet our financial expectations."

Specifying the reasons behind the closure of the two stores, the retail store chain added:

"While our underlying business is strong, these specific stores haven’t performed as well as we hoped."

Ending the statement, Walmart added:

"We are grateful to the customers who have given us the privilege of serving them at our Hayden Meadows and Eastport Plaza locations."

Walmart joins other stores in Portland, Oregon, that had to close following financial difficulties in the region

Following the announcement of the closure, Walmart has joined the fray of multiple stores in Portland, Oregon, that had to shut down over retail theft and/or shoplifting concerns. Earlier in November 2022, a Portland clothing shop called Rains PDX had to shut down permanently after experiencing a number of break-ins.

With crime rates in Portland, Oregon, on the rise, multiple stores have been shutting down their services over the last few years. A Nike store and a Cracker Barrel outlet in Portland had to abruptly shut down their services last year, citing shoplifting and other security issues.

Walmart store closure in Portland, Oregon to affect over 600 employees (Image via Sundry Photography/Getty Images)
Walmart store closure in Portland, Oregon to affect over 600 employees (Image via Sundry Photography/Getty Images)

The retail store chain has also announced the closure of other United States stores located in Arkansas, Florida, Washington, D.C., Wisconsin, New Mexico, and Illinois. When asked about the reasons behind all the closures, a Walmart representative told the press:

"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. Our focus right now is taking care of our associates during this transition and working with our customers to transition their pharmacy, and other, shopping needs to nearby stores."

The Walmart closure is said to affect nearly 600 employees, as they may have to transfer to locations in nearby cities. Multiple customers from Portland, Oregon, may also have to look for alternative stores for their shopping needs. While the two stores at Hayden Meadows and East Port Plaza will be shut down by the end of March, employees and customers may have to rely on the 17 locations outside of Portland and Vancouver.

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Edited by Somava