Locking up products to combat shoplifting is bad for business, drugstore CEO reports
STATEN ISLAND, N.Y. -- While many big-box chains now lock up merchandise as a means of combatting theft -- requiring shoppers to buzz for help in releasing a stick of deodorant or pack of disposable razors -- at least one retailer has publicly admitted that the practice is bad for business.
Walgreens CEO says locking up products hurt sales
Walgreens’ plan to combat increasing theft by locking products up at their stores has hurt sales, the company’s CEO said in a recent earnings call.
Walgreens says locking up products to prevent shoplifting hurts sales
Keeping products under lock and key dissuaded customers from purchasing them, Walgreens said in earnings call.
Walgreens CEO reveals anti-theft measures of locking up products had the opposite effect
Walgreens Boots Alliance CEO Tim Wentworth conceded that locking up products in order to combat retail theft had a negative impact on stores. During an earnings call on Friday, executives ...
Walgreens CEO says locking up merchandise harmed sales
"When you lock things up … you don't sell as many of them. We've kind of proven that pretty conclusively," Wentworth said. "I don't have anything magnificent to share with you today. It is a hand-to-hand combat battle still,
Walgreens CEO Says Anti-Shoplifting Strategy of Locking Up Products Hurt Sales
The policy of locking up items at big stores was supposed to curb shoplifting in the U.S. in the wake of the pandemic.
Walgreens CEO on shoplifting strategy: 'Lock things up ... you don't sell as many'
Retailers have been faced with increases in shoplifting and retail theft. But anti-theft prevention can hurt retail sales, says the CEO of Walgreens.
Walgreens CEO just now realizes locked shelves were a bad idea
Walgreens’ strategy of locking up merchandise — from deodorants to bags of M&M’s — to deter theft has backfired, according to CEO Tim Wentworth. “It is a hand-to-hand combat battle still, unfortunately,
Walgreens Says Its Strategy to Prevent Shoplifting Has Backfired
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
New shoplifting data explains why they’re locking up the toothpaste
Shoplifting rates in the three largest U.S. cities — New York, Los Angeles and Chicago — remain higher than they were before ...
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Locked up and losing out
Walgreens and retailers are dealing with a delicate balancing act between securing goods from theft while ensuring that ...