BIG TIME

Walgreens Says Its Strategy to Prevent Shoplifting Has Backfired

In an earnings call on Tuesday, the drug store’s CEO Tim Wentworth blamed declining sales on locked up items.

Walgreens has come to find out that both shoplifters and customers are turned off when items are locked away. In an earnings call on Tuesday, the drug store’s CEO Tim Wentworth blamed declining sales on locked-up items: “When you lock things up… you don’t sell as many of them. We’ve kind of proven that pretty conclusively.” The method of locking things away on shelves has become somewhat popular in recent years as retailers look to reduce product theft. But it may be scaring away those who want to buy an item but don’t want to wait for it to be unlocked. Wentworth referred to the struggle as a “hand-to-hand combat battle,” and said they were looking for “creative” solutions to fight theft, according to CBS News. Walgreens reported an operating loss of $245 million in the quarter, up over $200 million from the same time period last year. The outlet reported that the company plans to close hundreds of stores in 2025.