{"id":523156,"date":"2022-12-08T00:18:55","date_gmt":"2022-12-07T21:18:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/retail-theft-could-lead-walmart-to-close-stores-raise-prices\/"},"modified":"2022-12-08T00:18:55","modified_gmt":"2022-12-07T21:18:55","slug":"retail-theft-could-lead-walmart-to-close-stores-raise-prices","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/retail-theft-could-lead-walmart-to-close-stores-raise-prices\/","title":{"rendered":"#Retail theft could lead Walmart to close stores, raise prices"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26ea9745c32\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26ea9745c32\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/retail-theft-could-lead-walmart-to-close-stores-raise-prices\/#%E2%80%9CRetail_theft_could_lead_Walmart_to_close_stores_raise_prices%E2%80%9D\" >&#8220;Retail theft could lead Walmart to close stores, raise prices&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CRetail_theft_could_lead_Walmart_to_close_stores_raise_prices%E2%80%9D\"><\/span>&#8220;Retail theft could lead Walmart to close stores, raise prices&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Shoplifting has gotten so bad at Walmart stores that the retail giant may shutter locations in areas where local governments are taking a soft-on-crime <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roach, the company\u2019s boss said.<\/p>\n<p>CEO Doug McMillon, who has led Walmart since 2015, confirmed the retailer has experienced an increase in \u201cshrink\u201d \u2014 a term the retail industry uses to address losses related to in-store theft or fraud.<\/p>\n<p>\u201cTheft is an issue. It\u2019s higher than what it has historically been,\u201d McMillon said during an appearance <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/12\/06\/walmart-ceo-says-shoplifting-could-lead-to-price-jumps-store-closures.html\">on CNBC\u2019s \u201cSquawk Box\u201d<\/a> on Tuesday. \u201cWe\u2019ve got safety measures, security measures that we\u2019ve put in place by store location.<\/p>\n<p>\u201cI think local law enforcement being staffed and being a good partner is part of that equation, and that\u2019s normally how we approach it,\u201d McMillon added. \u201cIf that\u2019s not corrected over time, prices will be higher, and\/or stores will close.\u201d<\/p>\n<p>The Walmart CEO did not elaborate on how many stores could be in danger of closure, or where the closures might occur. The Post has reached out to the company for further comment.<\/p>\n<p>Walmart has 4,720 stores in the US and 10,586 locations around the world.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/walmart_02.jpg?w=1024\" alt=\"Walmart\" class=\"wp-image-24930903\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/walmart_02.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/walmart_02.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/walmart_02.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Walmart has more than 10,500 stores around the world.<\/figcaption><figcaption><span class=\"credit\">Corbis via Getty Images<\/span><\/figcaption><\/figure>\n<p>McMillon added that Walmart takes a \u201ccity by city\u201d and \u201clocation by location\u201d approach to how it handles shoplifting.<\/p>\n<aside class=\"single__inline-module alignright\">\n    <\/aside>\n<p>\u201cIt\u2019s store managers working with local law enforcement and we\u2019ve got great relationships there for the most part,\u201d he said.<\/p>\n<p>Walmart\u2019s top boss is the latest executive to warn of significant impact from what is often described as \u201corganized retail crime.\u201d<\/p>\n<p>Last month, Target CFO Michael Fiddelke said shrinkage had already shaved $400 million from the company\u2019s profits \u2013 with the final impact expected to rise to more than $600 million for the full year.<\/p>\n<p>Target CEO Brian Cornell added that his company had \u201cseen a significant increase in theft and organized retail crime across our business.\u201d<\/p>\n<p>As The Post reported in September, Rite Aid executives grumbled that shoplifting in New York City had contributed to \u201cunexpected headwinds\u201d and resulted in a $5 million year-over-year increase in shrink-related losses.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Doug-McMillon-walmart-71.jpg?w=1024\" alt=\"Doug McMillon\" class=\"wp-image-24930902\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Doug-McMillon-walmart-71.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Doug-McMillon-walmart-71.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/Doug-McMillon-walmart-71.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Doug McMillon has led Walmart since 2015.<\/figcaption><figcaption><span class=\"credit\">Getty Images for Tribeca Festival<\/span><\/figcaption><\/figure>\n<p>\u201cI think the headline here is the environment that we operate in, particularly in New York City, is not conducive to reducing shrink just based upon everything you read and see on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a> and the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> in the city,\u201d Rite Aid\u2019s chief retail officer Andre Persaud\u00a0during an earnings call at the time.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/07\/retail-theft-could-lead-walmart-to-close-stores-raise-prices\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Retail theft could lead Walmart to close stores, raise prices&#8221; Shoplifting has gotten so bad at Walmart stores that the retail giant may shutter locations in areas where local governments are taking a soft-on-crime approach, the company\u2019s boss said. CEO Doug McMillon, who has led Walmart since 2015, confirmed the retailer has experienced an increase&#8230;<\/p>\n","protected":false},"author":1,"featured_media":523157,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/newspress-collage-24930778-1670447755095.jpg?quality=75&strip=all&1670429813&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[136870,11154,70470,70804,71385,32332],"class_list":["post-523156","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-12-7-22","tag-ceos","tag-retail","tag-shoplifting","tag-theft","tag-walmart"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/523156","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=523156"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/523156\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/523157"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=523156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=523156"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=523156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}