Wal-Mart closing Portland, Lake Oswego stores in 269-location shuttering – OregonLive.com
A worker pushes shopping carts in front of a Wal-Mart store in California. Wal-Mart is closing 269 stores, more than half of them in the U.S. and another big chunk in its challenging Brazilian market. (AP Photo/Jae C. Hong, File) (The Associated Press)
(The Associated Press)
Wal-Mart will close stores in Portland and Lake Oswego has part of a 269-location global downsizing announced Friday morning.
Shoppers of the Walmart neighborhood markets at 8235 S.W. Apple Way in Portland (next to Jesuit High School) and 17711 Jean Way in Lake Oswego will have to spend their money elsewhere. The closures will start at the end of the month.
The 11,000-store retailer said more than half of the locations targeted for closure are in the United States. Ninety-five percent of those stores, the company said, are within 10 miles of another location.
For instance, both of the smaller markets being shuttered in the Portland area are a few miles from the new Walmart Supercenter in Tigard, as the map above shows.
The closures include all 102 bodega-like Walmart Express stores.
Why is Wal-Mart shuttering the locations after two decades of massive growth?
Here’s what the Associated Press reported on Friday morning:
The announcement comes three months after Wal-Mart Stores Inc. CEO Doug McMillon told investors that the world’s largest retailer would review its fleet of stores with the goal of becoming more nimble in the face of increased competition from all fronts, including from online rival Amazon.com.
“No doubt our business has become both large and broad,” McMillon told analysts in October. “It is more important now than ever that we evaluate our portfolio.”
Wal-Mart operates 4,500 in the U.S. Its global workforce is 2.2 million, 1.4 million in the U.S. alone.
Quartz has posted a list of every U.S. store set for closure.