Portland, Oregon Walmart Closings

[Lukaris]

Let's take your first story. It says this:

"In December, CEO Doug McMillon warned that an increase in theft could force the retailer to either raise prices or close stores if the problem continued.​

“Theft is an issue. It’s higher than what it has historically been,” he told CNBC’s “Squawk Box.”​

​

If you go to the Squawk Box interview, the CEO says this:

​

"“Theft is an issue. It’s higher than what it has historically been,” he told CNBC’s “Squawk Box.”​

“We’ve got safety measures, security measures that we’ve put in place by store location. I think local law enforcement being staffed and being a good partner is part of that equation, and that’s normally how we approach it,” McMillon said.​

​

He is not specifically saying the reason why they are leaving Portland in theft in that story. To me he is talking in general of what all stores are facing today. I provided Wallmarts statement of closure dealing specifically with the Portland stores. They don't say, "hey, were moving because of shrinkage". Again, they are not making the same absolute statements you are.

He only mentioned that theft is causing stores to close in general, then stores close within about 3 months when it was said , other retailers are shutting down there, the prosecution of thieves is low by the DA office, etc. Walmart is closing 8 stores in 5 states, 2 of them in Portland ( & leaving the city altogether); the disproportion there is obvious. Walmart does not say theft on the individual store closing level. You are either confused or do not want to acknowledge reality.

 

[Say it aint so]

He only mentioned that theft is causing stores to close in general, then stores close within about 3 months when it was said , other retailers are shutting down there, the prosecution of thieves is low by the DA office, etc. Walmart is closing 8 stores in 5 states, 2 of them in Portland ( & leaving the city altogether); the disproportion there is obvious. Walmart does not say theft on the individual store closing level. You are either confused or do not want to acknowledge reality.

Great. So what you describe is your inference, and not what the CEO actually said.

 

[Lukaris]

Great. So what you describe is your inference, and not what the CEO actually said.

Great, guess you believe the politicians where this is happening are really helping their communities. If you cannot understand cause & effect here you must be out of it.

 

[Say it aint so]

Great, guess you believe the politicians where this is happening are really helping their communities. If you cannot understand cause & effect here you must be out of it.

My irony meter just broke.