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.
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Walgreens: We Accidentally Proved Locks Are a Dumb IdeaConsider it a simple economic truth, one that ordinary Americans evidently knew long before CEOs: "When you lock things up ..
"When you lock things up … you don't sell as many of them. We've kind of proven that pretty conclusively," Wentworth said. "I ...
CEO Tim Wentworth admitted in a recent fiscal report call that combatting shoplifting by locking up items has led to customer dissatisfaction.
Walgreens is struggling to deter shoplifting at its stores, according to CEO Tim Wentworth, who described it as "a ...
The CEO of Walgreens admits that locking up products to deter theft is irritating paying customers and is hurting sales. The ...
Walgreens' sale of its majority stake in primary and multispecialty care provider VillageMD is underway, CEO Tim Wentworth ...
Walgreens will close five Chicago stores next month, part of the Deerfield-based pharmacy chain’s plan to shutter 1,200 ...
Walgreens, like other companies in the retail pharmacy space, has struggled with challenges related to low reimbursement and ...
Tim Wentworth, CEO of Walgreens Boots Alliance, the parent company of Duane Reade, acknowledged to investors during a Jan. 10 ...
Keeping products under lock and key dissuaded customers from purchasing them, Walgreens said in earnings call.
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Walgreens Admits Controversial Policy Backfired and Shoppers Aren't at All SurprisedIn a recent call with analysts, Walgreens CEO Tim Wentworth said preventing theft in stores "is a hand-to-hand combat battle ...
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