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Walgreens CEO makes stunning claim about the impact locking goods up has had on the industry
Daily Mail ^ | 1-16-25 | ALICE WRIGHT

Posted on 01/16/2025 4:02:41 PM PST by dynachrome

Walgreens' CEO has admitted that locking up items to avoid shoplifting has not worked - and it will close stores instead.

Not only has the practice not curbed theft, it has dramatically hit sales.

Over the past few years, major retailers like Walgreens, CVS, Walmart, and Target have increasingly resorted to locking up everyday items such as toothbrushes, deodorant, laundry detergent, coffee, and even milk.

The practice has sparked customer frustration, with many complaining about the inconvenience of waiting for an employee to unlock basic necessities.

During an earnings call on Friday, Walgreens CEO Tim Wentworth made a startling admission.

Despite these measures, the company reported a 52 percent increase in 'shrinkage,' the retail term for inventory lost to theft.

(Excerpt) Read more at dailymail.co.uk ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; Politics/Elections
KEYWORDS: closures; crime; looting; retail; theft; walgreens
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Locking stuff up didn't stop looters.

"It's racist to close stores in the 'hood!"

1 posted on 01/16/2025 4:02:41 PM PST by dynachrome
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To: dynachrome

52% shrinkage? Damn… time for massive closing of ghetto stores. That appears to be the ONLY solution at this time.


2 posted on 01/16/2025 4:05:21 PM PST by House Atreides (I’m now ULTRA-MAGA-PRO-MAX)
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To: dynachrome

Who is possibly “stunned” by this?

I would only be stunned if he came out and said: “We have serious problem with mostly black shoplifters in Democrat-run cities.”


3 posted on 01/16/2025 4:05:59 PM PST by PGR88
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To: dynachrome

Duh! Is anyone surprised that locking the item up that you want to buy and making you wait to get someone unlock it is going to hurt sales?

Maybe I can get a high paid consulting gigs telling this to companies!


4 posted on 01/16/2025 4:06:02 PM PST by skyman
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To: dynachrome

Like I have said for years, retail theft is out of control

There are a significant number of people who see a store as a place for free stuff


5 posted on 01/16/2025 4:06:25 PM PST by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: dynachrome

Maybe we could make shoplifting illegal!


6 posted on 01/16/2025 4:06:34 PM PST by E. Pluribus Unum (The worst thing about censorship is █████ ██ ████ ████ ████ █ ███████ ████. FJB.)
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To: dynachrome

Maybe he should invest in teaching people “thou shall not steal.” Just another sign when the moral foundation of a society breaks down, the society goes with it.


7 posted on 01/16/2025 4:07:00 PM PST by Fungi
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To: dynachrome

Any chance he detailed where the highest rates of “shrinkage” have occurred?


8 posted on 01/16/2025 4:07:13 PM PST by Texas_Jarhead
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To: dynachrome

In the areas I have lived they had to lock up black people’s products.


9 posted on 01/16/2025 4:07:52 PM PST by CodeToad (Rule #1: The elites want you dead.)
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To: dynachrome

Also, they saturate areas. There are 4 within 5 miles from me.


10 posted on 01/16/2025 4:08:30 PM PST by Fledermaus (4 DAYS TO SANITY!)
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To: dynachrome

“Walgreens’ CEO has admitted that locking up items to avoid shoplifting has not worked - and it will close stores instead.”

Agree - sends people right to Amazon. I’m still pissed the way I was treated once when a guy needed to open a cage for me to buy something. Never had to beg to get something for Amazon.


11 posted on 01/16/2025 4:09:48 PM PST by BobL
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To: skyman
Funny thing is that the people doing the stealing get EBT, Medicaid, Section 8, WIC, Obama phones,
a myriad of "p'ogrums". They have more walking around money than honest working stiffs.

12 posted on 01/16/2025 4:10:01 PM PST by Governor Dinwiddie ( O give thanks unto the Lord, for He is gracious, and His mercy endureth forever. — Psalm 106)
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To: dynachrome

When home de pot resorted to having their sales associate walk me to the payup counter while holding my power tool purchase in their possession until paid for I decided that they did not get my business and left them holding it.


13 posted on 01/16/2025 4:10:16 PM PST by Recompennation (Don’t blame me my vote didn’t count )
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To: dynachrome
The practice has sparked customer frustration, with many complaining about the inconvenience of waiting for an employee to unlock basic necessities.

It's so easy to order those things from Amazon or Walmart with free delivery.

14 posted on 01/16/2025 4:10:49 PM PST by gitmo (If your theology doesn’t become your biography, what good is it?)
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To: dynachrome
Theft can get insured.

Behind thick hard plastic with a lock equals a lack of sale as the consumer orders from Amazon with a security cams around their doors for their insurance against theft.

Hire off-duty police in troubled areas and keep the aisles “free”.

15 posted on 01/16/2025 4:11:04 PM PST by rollo tomasi
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To: dynachrome

“Customer service agents” who don’t speak English, and don’t know where anything is, but will unlock it if you find it and point.

Not going back. This was Walmart, not Walgreens. Will turn around if I see such again.


16 posted on 01/16/2025 4:11:32 PM PST by heartwood (If you're looking for the /sarc tag, you just passed it.)
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To: PGR88

The looters just stopped stealing the locked up items and started stealing the open items.
The thieves don’t care what they steal...they are stickin’ it to the white man!


17 posted on 01/16/2025 4:11:50 PM PST by Cletus.D.Yokel (When I say "We" I speak of, -not for-, "We the People")
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To: Governor Dinwiddie

(They have more walking around money than honest working stiffs.)

You are not incorrect about that.


18 posted on 01/16/2025 4:13:09 PM PST by SaveFerris (Luke 17:28 ... as it was in the Days of Lot; They did Eat, They Drank, They Bought, They Sold ......)
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To: skyman

Understaffed stores to begin with then make folks have to track down and wait for someone to unlock a case for a common item…. Gee who would have imagined people will stop shopping there


19 posted on 01/16/2025 4:14:06 PM PST by HamiltonJay
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To: dynachrome

I’ve taken to ordering online

Not worth the hassle of in person anymore...


20 posted on 01/16/2025 4:14:29 PM PST by Vendome (I've Gotta Be Me https://youtu.be/wH-pk2vZG2M)
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