Walgreens CEO Admits ‘Locking Things Up’ To Prevent Theft Is Bad For Business

Walgreens CEO Admits ‘Locking Things Up’ To Prevent Theft Is Bad For Business

Walgreens CEO Tim Wentworth is admitting that the company’s anti-shoplifting strategy may have caused more problems than it solved.

According to reports, during an earnings call on Jan. 10, Wentworth acknowledged that locking up products following a 52% increase in stolen inventory had backfired, stating:

“When you lock things up, for example, you don’t sell as many of them. We’ve kind of proven that pretty conclusively.”

Despite the impact on sales, Wentworth shared that the company is still working on solutions to combat shoplifting, noting,

“I’m working with the company’s head of asset protection to develop ‘creative’ solutions.”

Interesting… share your thoughts in the comments below.

[VIA]