A man, who was believed to be the store manager, opened fire in Walmart before reportedly turning the gun on himself.
The City of Chesapeake tweeted: “Police confirm an active shooter incident with fatalities at the Walmart.”
They later added: “The shooter is deceased.”
Police were called shortly after 10 pm local time, according to spokesman officer Leo Kosinski.
Mr Kosinski said police believe that the shooting occurred inside the store, although one person was found dead outside.
At this stage it is not known for certain if the shooter died of self inflicted wounds.
However, Mr Kosinski added that no shots were fired at police “to his knowledge”.
A number of people were also injured, with nearby Sentara Norfolk General Hospital, in the nearby city of Norfolk, treating five people, according to reports.
The City of of Chesapeake Twitter also tweeted: “A family reunification site is set up at the Chesapeake Conference Center (700 Conference Center Drive).
“This site is only for immediate family members or the emergency contact of those who may have been in the building.”
No motive has yet been established.
Although details are currently limited, a police officer spoke of no more than 10 people being killed in the incident.
Virginia state Senator Louise Lucas said she was “absolutely heartbroken” at what she referred to as “America’s latest mass shooting”.
Writing on Twitter she added: “I will not rest until we find the solutions to end this gun violence epidemic in our country”.