Walgreens CEO admits anti-theft measures hurt sales: ‘When you lock things up, you don’t sell as many of them’
The top executive at Walgreens lamented the loss of sales from putting items like toothpaste behind lock and key to crack down on rampant shoplifting that has plagued pharmacy chains around the country.
Walgreens CEO Says Locking up Items to Deter Theft Not Effective
Walgreens CEO discusses the ongoing struggle with theft prevention in stores, citing locking items as ineffective.
Walgreens CEO reveals anti-theft measures of locking up products had the opposite effect
CEO Tim Wentworth admitted in a recent fiscal report call that combatting shoplifting by locking up items has led to customer dissatisfaction.
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 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 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 Admits What Many Already Suspected About Anti-Theft Measures
In an earnings call, executive Tim Wentworth conceded that locking products up might not be the best move for boosting sales.
Walgreens used this strategy to reduce theft. Turns out, it was bad for business
While locking up merchandise can reduce theft, it also deters paying customers, according to Walgreens. Over the years the pharmacy chain used strategy to combat shoplifting. CEO Tim Wentworth said the company’s decision to lock up products after reporting a 52% increase in stolen inventory has backfired,
Locking up products to combat shoplifting is bad for business, drugstore CEO reports
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