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 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 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.
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 don't have anything magnificent to share with you today. It is a hand-to-hand combat battle still,
Anti-shoplifting effort is hurting sales, Walgreens says
Tim Wentworth, CEO of Walgreens Boots Alliance, the parent company of Duane Reade, acknowledged to investors during a Jan. 10 earnings call that the company's asset protection tactic of locking merchandise to prevent retail theft has slowed sales.
Walgreens says locking up products to prevent shoplifting hurts sales
Keeping products under lock and key dissuaded customers from purchasing them, Walgreens said in earnings call.
Anti-shoplifting effort is hurting sales, Walgreens CEO says
"When you lock things up … you don't sell as many of them," Tim Wentworth said during the company's latest earnings call.
Walgreens CEO says stopping shoplifting is like a 'hand-to-hand combat battle'
Walgreens CEO Tim Wentworth said the company is taking "creative" steps to address shrink, which remains a challenge for its retail operation.
Walgreens CEO says anti-shoplifting strategy backfired: ‘When you lock things up…you don’t sell as many of them’
Walgreens' CEO talked about the flip side of investing in increased security on a recent earnings call.
Walgreens Says Its Strategy to Prevent Shoplifting Has Backfired
Walgreens has come to find out that both shoplifters and customers are turned off when items are locked away. In an earnings call on Tuesday, the drug store’s CEO Tim Wentworth blamed declining sales on locked up items: “When you lock things up
Walgreens CEO admits downside to locking up items
Many retail stores across the Bay Area have turned to locking up commonly stolen items to prevent against shoplifting. But there is a downside to that tactic, Walgreens CEO Tim Wentworth said. “When you lock things up,
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