Walmart Shutting Down Stores Cause Of Theft!

Portland, Oregon will lose all of its Walmart stores.

They build these damn Walmart stores in these cities, drive out the smaller retailers, dominate the area for at least a few decades before they all of sudden decide to close up shop and place the community in a situation where a ghost box store remains, a food desert and blame the closing on allegations of minor crime being a reason for leaving.

I hate to say this, but crime is an issue going into 2024. 

Inflation, economic stress due to working at crappy jobs, drug abuse and social media are contributing factors to theft.

I was a victim of a crime. The Kia Boyz got into my vehicle and damage the window and stole property. They did not steal the car because it has an immobilizer but they could have tried to damage the vehicle at some point if they learned how to hack an immobilizer.

I couldn't go to work and I had to listen to the loud noise of wind ravaging through the broken window. Thankful I had full coverage for the replacement of a window. 

I feel the pain and it has me concerned that crime will become an anchor on President Joe Biden's neck.

Republicans offer no real solutions to stopping crime. They only see it as a potential culture war. They have unpopular ideas and completely out of touch with America.

But they sure know how to message. Scare folks with things like crime and claims of the Democrats wanting to defund the police.

“Theft is growing at a faster rate than sales,” said Dean Rosenblum, a senior U.S. retail analyst at Bernstein Research. Mr. Rosenblum said theft is becoming a big enough problem that it’s starting to affect margins, which is why retailers are talking about it more frequently.

Retailers typically conduct a physical count of their inventory once a year and compare it to what is recorded on their books. The difference is known as shrink, a broad term that encompasses not just internal and external theft but also process failures that could lead to inventory being lost or recorded inaccurately. 

Walmart, Inc. based in the northwestern city of Bentonville, Arkansas is deciding to close 280 stores in local communities citing theft and constant police reports. 

The shutdowns come after Walmart Chief Executive Officer Doug McMillan issued a warning on the downside impact of crime and retail theft in urban locales.

“Theft is an issue. It’s higher than what it has historically been,” McMillon stated in a CNBC “Squawk Box” interview late last year. “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.”

Walmart has closed stores in Pittsburgh, Washington, DC, Albuquerque, Milwaukee, Chicago, Portland, OR, Tampa, Cincinnati, Los Angeles, Juneau, Cleveland and Baltimore.

Walmart is struggling with online retail which dominates with Amazon. Folks are feeling safer having groceries, hardware and electronics delivered to their homes. Walmart can claim crime and low performance all they want, but in the short term, folk who felt betrayed by Walmart closing will not travel to the nearest store.

I believe if communities boycott stores that close in their neighborhoods, it may in the short term hurt their bottom line. But I am just going to keep my head down and head to Walmart for the cheapest products since I drive.

Portland, Oregon is the largest city in the state. It has a population of 653,000 residents.