Kacho
Member
All Portland Walmart stores to permanently close in late March
The last two Walmart stores within Portland’s city limits will close in late March.
www.kptv.com
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All Portland Walmart stores to permanently close in late March
- Thread starter Kacho
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www.kptv.com
StreetsofBeige
Member
Not too often you hear WM stores shut down. Although it can happen if it's simply relocation. But a total shut down is rare.
I'll assume there's too much customer sketchiness going on at those locations, it's better to bail. WM as a whole company probably only makes about 5% net profit (too lazy to check), so all it takes is some weird shit going on at a store and that profit can easily turn to a loss.
(Edit: I checked. WM's net profit % is 2%. It used to be closer to 3% years back)
I'll assume there's too much customer sketchiness going on at those locations, it's better to bail. WM as a whole company probably only makes about 5% net profit (too lazy to check), so all it takes is some weird shit going on at a store and that profit can easily turn to a loss.
(Edit: I checked. WM's net profit % is 2%. It used to be closer to 3% years back)
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jshackles
Gentlemen, we can rebuild it. We have the capability to make the world's first enhanced store. Steam will be that store. Better than it was before.
Nope, it's 100% too much theft. Portland police aren't even investigating what's called "2nd degree theft" (under $750) anymore, and the DA isn't prosecuting. So people are stealing big ticket items on the regular, and the cops won't even file a report (which is required for Walmart's insurance/etc. to cover the losses).
Essentially, law and order have broken down there.
Maiden Voyage
Gold™ Member
How will I make meth now?
Beastclaw Raider
Member
Sounds like union
edit: doesnt sound like union, saw above post
edit: doesnt sound like union, saw above post
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MidGenRefresh
Member
Ahhhh too bad we can’t discuss politics. 
Maiden Voyage
Gold™ Member
I was thinking UFOs myself.
StreetsofBeige
Member
Crazy. Isnt California $1000?
You'd think the threshold might be $75 or $100. But when the law isn't even caring about $750 it goes to show what a reckless shit show it is across sketchy people and the law not even bothering.
You can get a big TV for $750 US. So a guy can walk in, walk out with a TV and nothing happens?
LOL. Insane. That's USA for ya.
jshackles
Gentlemen, we can rebuild it. We have the capability to make the world's first enhanced store. Steam will be that store. Better than it was before.
Don't worry, there are plenty of people still making meth in Oregon.
In fact, it's decriminalized here. If you get caught in possession of meth, you get a ticket.
Maiden Voyage
Gold™ Member
Pegasus Actual
Member
So, if I get political in obvious-political-thread, will I get in trouble? Or does OP get in trouble for obvious-political-thread?
GymWolf
Member
Maiden Voyage
Gold™ Member
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DeepEnigma
Gold Member
You get what you "vote for." Systematic destruction and unrest from within.
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jshackles
Gentlemen, we can rebuild it. We have the capability to make the world's first enhanced store. Steam will be that store. Better than it was before.
The state law here says that a class 2 theft (under $750) is still punishable by up to 1 year in jail or a $6,250 fine.
The problem is that the municipality of Portland reduced their police funding pretty significantly a few years back, and they elected an extremely lenient district attorney. So - not enough cops to investigate every crime, and the ones that are available won't even bother with this because they know it'll go nowhere, the perpetrator won't be charged anyway, and that they'll get away scott free. The cops know this, and the criminals know this.
The end result is that you can indeed walk into a Walmart in Portland, put a PlayStation 5 in your shopping cart, and leave the store with it without paying. There is about a 0.1% chance that you'll suffer any consequences at all, especially if this is the first time you've done it and you're not a repeat offender. If you go over $750 it's considered "grand theft larceny" which carries stiffer penalties (meaning higher potential chance for the cops / DA to care), and it becomes a felony (federal crime, could potentially be investigated by the FBI).
Thankfully, rural counties in Oregon (where I live) aren't like this. It's a situation that's pretty unique to Portland (and to an extent, Salem).
Beastclaw Raider
Member
That's crazy man, I wouldnt even steal something from a dollar store here.
NecrosaroIII
Ask me about my terrible takes on Star Trek characters
Most of the theft from employees.
Kacho
Member
What is the consensus over there? Do people think Portland is salvageable? From the outside looking in that seems incredibly unlikely.
jshackles
Gentlemen, we can rebuild it. We have the capability to make the world's first enhanced store. Steam will be that store. Better than it was before.
Potential conspiracy theory ahead:
Not to get too political, but a lot people in rural Oregon is that this is mostly being pushed as an agenda to turn Portland into a bunch of slums to lower the property values so that rich billionaires can swoop in to buy massive amounts of land. Once that's done, they'll swing things in the other direction and start cracking down on this stuff so that they can make it a nice place to live again and drive the property values back up to where they were.
But, it's hard to say. Tons of people here think this didn't just happen organically (staged "peaceful protests", rise of "defund the police" in media, etc.) so they assume that the powers that be have done this for a reason.
If it's not that, this kind of stuff will certainly drive people out of the city organically as they lose jobs and businesses. Eventually there could be enough dispersal that the voting population that's left will stand up against it politically. There's always hope.
HoodWinked
Member
Walmart CEO warns company will close stores if theft doesn't slow down
The world's largest retailer likely loses about 1% of its US revenue — or roughly $3 billion every year — to stealing by customers and employees.
www.businessinsider.com
They're following through on their threat they made in December. Probably starting with the least profitable stores.
The funny thing is that Portlanders are likely glad they're leaving since Walmart is like the quintessential US capitalist corporation. So nothing will be learned or fix. Thefts likely will just migrate to their next targets like small businesses and Target.
Jinzo Prime
Member
That is what the well off people always think, but poor and working class families rely on Walmarts, Krogers, Sams Clubs, and Costcos. At least we did growing up.
Yep. Once these policies actually effect the rich people things will change. Or Portland will slowly become Detroit, who knows.
daffyduck
Member
From what I've noticed, consoles are typically behind glass or a cage, or lately, in the back.
Are they just on a shelf in Portland?
Patrick S.
Amiga Forever
Man I remember seeing pictures on 9gag where makeup for black people had more anti theft protection than a money transporter, and the stuff for light-skinned people had none of that. In places like that, I'd expect a guy with a shotgun watching over the game consoles...
AJUMP23
Member
My brother was a CSM there years ago and most product stolen goes out the back not the front. Annual bonuses use to be tied to theft.
poodaddy
Member
I moved from Seattle a year ago now, mostly due to the insane violent crime rates and unbelievably horrible drug and homeless problems, and went clear across the country to Maine. With every bit of news out of the west coast, that decision is vindicated more every day.
Leave the west coast folks, it's fuckin done. Law and order does still exist else where. Cops here in Maine don't fuck around man, and I LOVE it. If you continue to choose living in the west coast, I highly suggest arming yourself and getting a security system for your house; it's all gonna be Los Angeles lite soon.
Maiden Voyage
Gold™ Member
Mistake
Member
I am slightly worried that Portland Maine will eventually become another Portland Oregon, but that’s far down the road. State police in ME and NH know what they’re doing atm
StreetsofBeige
Member
West coast is always drug laden. No different in Canada. BC is always known to be the druggy province of choice. If someone wants to be do weed or be stoned out of his mind 24/7 with an chill west coast work ethic, you dont pack up your bags and move to Alberta, Ontario or Nova Scotia. You get a one way ticket to BC.
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poodaddy
Member
Yeah I know what ya mean. Southern Maine gets too much riff raff up from Boston I think, but up in central Maine the crime isn't too bad. It is far from nonexistent, but it's barely a problem. Most of the "crime" up here is pretty much just small time scammers and drunks being dumb.
12Goblins
Lil’ Gobbie
Yea I think it's just become part of the culture there that its become permissible / not seen as unethical to steal from giant corporations like Walmart, Amazon, etc who are seen as exploitative/monopolizing and bad for small businesses/healthy competition
Walmart CEO warns company will close stores if theft doesn't slow down
The world's largest retailer likely loses about 1% of its US revenue — or roughly $3 billion every year — to stealing by customers and employees.
They're following through on their threat they made in December. Probably starting with the least profitable stores.
The funny thing is that Portlanders are likely glad they're leaving since Walmart is like the quintessential US capitalist corporation. So nothing will be learned or fix. Thefts likely will just migrate to their next targets like small businesses and Target.
When they look at the numbers, I'm sure Walmart can see they are not welcome there, I don't think it necessarily means the culture there is degenerating
GeekyDad
Member
Unions are all but dead in retail. They are there, but they're functionality is pretty much a dog-and-pony show.
My guess (aka Alex Jones-ish speculations), this could be the first stages of their full transformation into an Amazon-like retail format -- delivery and pick-up. They may either end up buying out smaller companies that specialize in perishables, or open smaller Walmart-lite-type stores that focus only on perishables. They're not going to leave that food-stamp money on the table, but they have to make this transformation, as does Kroger, in order to stay top-tier. It's gonna be mostly part-timers going forward, like fast-food. But grocery and perishables make up only about one third or less in a typical Walmart store. There's no need for them to pay both warehouse people to unload pallets off trucks from docks, then reload those trucks with pallets to send to stores, and pay more people to stock that shit, when they can just unload once and ship individual items to customers like Amazon.
Rush2112
Member
Businesses are leaving liberal cities. too much crime and homelessness and not enough law enforcement funding. this is the price of "tolerance." this is your liberal utopia.
Now, if only tugging your cock between your legs turned you into a woman, liberals would be in heaven.
Now, if only tugging your cock between your legs turned you into a woman, liberals would be in heaven.
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any culture that views it permissible and ethical to steal would be a culture that is degenerating.
DeepEnigma
Gold Member
Literally "get woke go broke," eh, Walmart? And sadly the employees that will be out of a job in an already manufactured inflated market/economy, and people who rely on cheap affordable goods for their family to get by as well.
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12Goblins
Lil’ Gobbie
Maiden Voyage
Gold™ Member
Unionized martians. Who coulda seen that one coming?
Goldilocks too.What about robin hood bro
LegendOfKage
Member
My rule of thumb is no mentioning politicians by name, and no red vs blue "teams" BS. Outside of that, we generally seem to be allowed to talk about serious issues, provided we stay away from "us vs them" mentality.
The other thing is there are plenty of people who don't feel represented by any major political party, and we all have opinions too.
Paltheos
Member
Corroborating this post as I too did the math. Here are some more details for the interested (amounts are in millions USD):
Consolidated Net Income / Total Revenue = 13940 / 572754 = 2.43%
A ratio using operating income is more favorable but the margins are still thin:
Operating Income / Total Revenue = 25942 / 572754 = 4.53%
Source: Walmart's 2022 annual report (page 40)
Just as a point of comparison, Alphabet (Google) has a substantially more favorable income to revenue ratio, 21.2% (59972/282836). Not surprising since it's a tech company but I just felt like sharing.
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Maiden Voyage
Gold™ Member
If I’m reading this correctly, and I believe I am, what you’re saying is the Walton family kept it G’s up and hoes down in ‘22.
AJUMP23
Member
I mean they are still in Detroit.
Vicetrailia
Member
The west coast is just really expensive to live at so there is lots of homeless, who do a lot of cheap drugs.
Dirk Benedict
Member
I work retail, and Walmart has been hit hard by retail theft. They won't admit it, but that is more than likely one of the big reasons.
The ninja farmer
Member
While in the uk.
Walmart have all but sold up their interest in retail with them getting rid of the Asda supermarket network. Hundreds of stores, thousands of employees. that they have owned for many years, sold in what looks a cheap deal. Walmart now have essentially no retail presence in the uk (the first things the new owners have done, is load the company with debt and transfer the ownership of Asda fuel stations to their own company)
Maybe signs of a bigger shift with the family behind walmart and a reaction to the current retail environment ?
Walmart have all but sold up their interest in retail with them getting rid of the Asda supermarket network. Hundreds of stores, thousands of employees. that they have owned for many years, sold in what looks a cheap deal. Walmart now have essentially no retail presence in the uk (the first things the new owners have done, is load the company with debt and transfer the ownership of Asda fuel stations to their own company)
Maybe signs of a bigger shift with the family behind walmart and a reaction to the current retail environment ?
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