Walmart CEO Warns of Store Closures Amid Rising Theft
People are stealing from Walmart at an alarming rate — and if it doesn’t slow down, stores across the country will close.
Walmart CEO Doug McMillon issued the warning during an interview with CNBC.
“Theft is an issue,” McMillon said. “It is higher than what it has historically been.”
“If that’s not corrected over time, prices will be higher, and/or stores will close,” he added.
The Walmart CEO didn’t say how much money the retailer has lost in stolen merchandise this year. But theft likely costs Walmart about 1% of its U.S. revenue — or $3 billion — according to Reuters.
McMillon said that the way to reduce theft in Walmart is by working with local law enforcement agencies, stressing the importance of such agencies being fully staffed.
Walmart isn’t the only retailer to sound the alarm on skyrocketing theft.
Former Home Depot CEO Bob Nardelli recently told “Fox & Friends” that retail theft is “spreading faster than COVID.”
Source: Business Insider | New York Post
15 comments on Walmart CEO Warns of Store Closures Amid Rising Theft
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Maybe when stores close people will demand we punish the criminals instead of hurting honest hard working people.
I agree. It wouldn’t hurt to hire security and use whatever means necessary to keep people from walking out of the store with things they’re unwilling or unable to pay for. Why should it be that the innocent are always asked to suffer for the sins of others?
We can thank the Woke, Racist, Extremist Marxist DemoRATS, for releasing CRIMINALS TO CONTINUE TO STEAL, INJURY INNOCENT PEOPLE, STEAL CARS, RAPE AND EVEN KILL AND FOR RELEASING CRIMINALS FROM JAIL.
THE ONLY WAY, TO PUT A STOP TO THESE CRIMINALS, IS PUT THEM IN JAIL, AS SOON AS THEY ARE APPREHENDED BY THE POLICE AND LET THEM DO THE MAXIMUM TIME.
THEY SHOULD BRING BACK THE DEATH PENALTY FOR ANYONE WHO KILLS COPS AND INNOCENT PEOPLE.
KILLER CRIMINAL DON’T DESERVE TO LIVE. “THOU SHALL NOT KILL”
i am so so sorry that there are people in this world that think it is okay to steal. please do not close Walmart. We need you. God Bless. judy dipietro
Maybe “Woke” politicians will wake up and start enforcing laws that have served this country pretty well so far.
Keep allowing the rampaging Monkeys to just walk in stores (CVS, Walgreens, Walmart, etc) & walk out without paying for products and NOT trying to stop them, then u fkin deserve this!!!
Ken, it’s not a matter of not stopping them, even if caught in California unless the amount is over $1,000.00 the store can’t even stop them. Not only that but the kids are going into stores in mobs (25-50) and walking out with whatever they want. George Soros has placed 37 states with his hand picked States Attorney Generals that are changing the laws to meet Californias, a dangerous situation in every state. But, this is the direction each state is headed. I was born and raised in Chicago. Back then it was as safe as could be, we never even locked the door or closed the windows. Now it’s similar to LA and NYC. Come first of the year the police can’t even chase the crooks (new law)…………
It is sickening that the rich elites have planned & have been pushing their socialistic, Agendas 21 & 30, One World Order.
George Soros vowed to deliberately destroy America in every manner that he could before he dies & he is succeeding. He is using his money & resources as incentives to remove God from every thing, promoting evil & satanism, lie, cheat, steal, organizing riots, open borders, invasion of illegals, lying, changing history & laws, pushing racism & wokeness, openly liberal school agendas & promoting sexual grooming of children, destroying statues, the Constitution, buying the media, left wing, Democratic politician, elites, celebrities, blm groups, abortion clinics, gangs, judges, defending the police & releasing of dangerous criminals from jail, pushing of deadly vaccines & boosters for depopulation, etc…
The left-wing democrats are all connected & bought.
Our world is coming to an end.
I wish he would die
Maybe we need to stop them if Security or law enforcement won’t.
i DO NOT UNDERSTAND WHY WE WILL LET THE CROOKS WIN HOW ABOUT MUCH MORE SECURITY IN STORES AND CAMERAS THE COST HAS TO BE LESS THAN THE BILLIONS LOST TO THEFT ? WHAT HAS HAPPENED TO US THAT WE WOULD RATHER LIE DOWN AND GIVE IN OR STAND UP AND FIND A SOLUTION.
Hey I did that…Biden…..I think???
Make it so you have to show identity to get in the store and show the receipt to get out.
Keep praising the thief’s and losers, you asked for what you got!!!
Hire some of our U.S. war veterans & Military police that can be certified to stop & check for a proof of sale on your exit of Walmart & other stores & have a room where they can hold that person until the police get there & if the judge does nothing put the judge in jail for not doing his or her job. The judges are part of the problem……..