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For sure they are lumping in a bunch of closings together that are not necessarily related. The original link mentioned other closings Walmart announced in Febr
by mixdup 4y ago
For sure they are lumping in a bunch of closings together that are not necessarily related. The original link mentioned other closings Walmart announced in February and most of those are due to Walmart giving up on a specific format that they were testing. But, by lumping in some of these types of closings they can blame "criminals" for their own financial failing
- ed25519FUUU 4y agoYou don’t need a multinational company to tell you shoplifting is rampant in Portland. You can just visit there.
- fbdab103 4y agoActually, you do? Anecdotes are insufficient to understand the real magnitude of issues. Is the rate of shrinkage at a Walmart in Portland different from a similarly sized/neighborhood in Austin? How does it compare vs historical trends? Is Target showing similar? Are these numbers more or less than following the 2008 crash?
- thephyber 4y agoI wouldn’t take anyone’s word for it. There are too many actors with an agenda and a free political PR machine spewing hate about SF, Portland, Seattle, NYC, etc. Even Walgreens publicly admitted in Jan that they had made far too big a deal about shoplifting as the cause for their SF closings in 2022. I expect there is corporate ass-covering happening by painting bad news as caused by factors external to the company and the market.