Walgreens CEO: Locking Up Many Items Has Backfired

CBS News reports:

Locking up store merchandise can deter shoplifters and paying customers alike, according to Walgreens.  The pharmacy chain’s CEO Tim Wentworth said in Walgreens Boots Alliance’s first-quarter earnings call Tuesday that “When you lock things up … you don’t sell as many of them. We’ve kind of proven that pretty conclusively.”

Keeping retail products under lock and key is a maneuver designed to thwart rising retail theft. But it also irks — and turns away — would-be paying customers who don’t have the patience to wait for a retail clerk to retrieve goods they wish to buy. Walgreens plans to close hundreds of stores by the end of 2025 to turn around its flagging sales.

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