Walmart can raise prices and close stores if crime continues: update: 4 Chicago area closing

Walmart will close its last two stores in crime-plagued Portland, Ore., as the city contends with a relentless wave of shoplifting that has hammered retailers.

The closures, set for March 24, come months after CEO Doug McMillon warned the discount retailer was seeing a spike in “shrink” — a term the retail industry uses to address losses related to in-store theft or fraud.

“Theft is an issue. It’s higher than what it has historically been,” McMillon said during an appearance on CNBC’s “Squawk Box” in December. “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.”​

 

Soft on crime state and local governments on display …maybe voters will learn one day

 

So they are going to "protest" Walmart decision to gtfo ? SMH ..Some of these people would protest the fact sunshine happens in the morning . . .

 

The podcaster made excellent points, a company opens up a nice store in your neighborhood and the people have no respect for it and abuse it and the company can't turn a profit and they will leave..............simple as that. These stores are not peoples personal atm so if you steal day after day then the company will close. No One is trying to starve anyone, there in business to make a profit