Walmart stores across the U.S. are grappling with an uptick in shoplifting that could lead to higher prices and closed stores if the problem persists, Walmart CEO Doug McMillon said Tuesday.
“Theft is an issue. It’s higher than what it has historically been,” he told CNBC’s “Squawk Box.”
“We’ve got safety measures, security measures that we’ve put in place by store location. I think local law enforcement being staffed and being a good partner is part of that equation, and that’s normally how we approach it,” McMillon said.
The company loses roughly $3 Billion every year from theft.
Discover more from KossyDerrickent
Subscribe to get the latest posts sent to your email.
