(UnitedVoice.com) – Organized theft is an ongoing problem for retailers across the US. Businesses of all sizes are feeling its impact, even the largest retailer in the country.
On Tuesday, December 6, Walmart CEO Doug McMillon appeared on CNBC’s “Squawk Box.” The businessman said that theft has been “higher than what it has historically been.” He explained the company is taking measures to prevent shoplifting.
McMillon said he thinks it’s incredibly important that local communities properly staff their police departments. Unfortunately, he explained, some of the prosecutors around the country aren’t taking the crimes seriously enough. That could cause severe issues for Walmart and negatively impact store communities.
If authorities don’t get thefts under control, McMillon said the company might have to raise prices for consumers or even close some locations completely.
Rising thefts at Walmart could lead to price jumps, store closures, CEO says https://t.co/7sJ2e4gCjc
— CNBC (@CNBC) December 6, 2022
The news from McMillon comes the same week the Los Angeles Police Department announced officers arrested 18 people connected to a rash of thefts. The group was composed of individuals between 15 and 20 years old. They reportedly stole roughly $23,000 worth of merchandise. Law enforcement is investigating the group’s possible links to another string of incidents where thieves stole a total of $90,000 in goods.
What do you think of the Walmart CEO’s statements?
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