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Walgreens used this strategy to reduce theft. Turns out, it was bad for business
Over the years the pharmacy chain used strategy to combat shoplifting. Walgreens CEO Tim Wentworth said the company’s decision to lock up products after reporting a 52% increase in stolen inventory has backfired, according to multiple reports.
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 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 admits anti-theft measures ‘largely ineffective’: ‘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 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.
1d
on MSN
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 ...
21h
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 ...
EURweb on MSN
9h
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.
2d
on MSN
Walgreens CEO: Stopping shoplifting is a "hand-to-hand combat battle"
Walgreens is struggling to deter shoplifting at its stores, according to CEO Tim Wentworth, who described it as "a ...
16h
on MSN
Locked shelves flop says Walgreens CEO as Bay Area stores shutter to save $1B
Walgreens’ strategy of locking up merchandise — from deodorants to bags of M&M’s — to deter theft has backfired, according to ...
justthenews
1d
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 ...
1d
on MSN
Walgreens says locking up products from shoplifters hurt sales
Keeping products under lock and key dissuaded customers from purchasing them, Walgreens said in earnings call.
HealthLeaders Media
3d
Walgreens' Turnaround Takes Shape in Midst of Significant Q1 Losses
Walgreens, like other companies in the retail pharmacy space, has struggled with challenges related to low reimbursement and ...
1d
This All-In-One Grooming Gift Is the Perfect Valentine’s Gift for the Man in Your Life
Plus, its compact size makes it perfect for small work teams of up to seven people. With a reasonable price tag just south of ...
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