Retailers all around the US are constantly dealing with organized theft. All sizes of businesses, even the biggest store in the nation, are being impacted.
Doug McMillon, CEO of Walmart, stated on CNBC’s “Squawk Box” on Tuesday, December 6, that theft had increased compared to previous years. He described the steps the business is taking to deter shoplifting.
According to McMillon, it is crucial that local governments adequately staff their police forces. He lamented the fact that certain prosecutors around the nation aren’t treating the offenses severely enough. That might be very problematic for Walmart and hurt the communities of the stores.
Rising thefts at Walmart could lead to price jumps, store closures, CEO says https://t.co/7sJ2e4gCjc— CNBC (@CNBC) December 6, 2022
According to McMillon, if law enforcement doesn’t stop thefts, the business may have to raise rates for customers or perhaps close some outlets entirely.
The McMillon report comes the same week that the Los Angeles Police Department reported that investigators had detained 18 suspects in connection with a string of thefts. The group consisted of people between the ages of 15 and 20. They allegedly stole goods worth around $23,000. Law enforcement is looking into the group’s potential connections to a second round of thefts that totaled $90,000 in merchandise.