‘Maybe we cried too much’: Walgreens hints it exaggerated shoplifting surge
‘Maybe we cried too much’: Walgreens hints it exaggerated shoplifting surge
Financial chief James Kehoe admits company may have overstated purported problem, which fueled rightwing outrage over crime
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He just clarifies between individual shoplifters and organized retail theft. From the article: "Theft is an issue. It’s higher than what it has historically been,” the company chief executive, Doug McMillon, told CNBC. However, McMillon said that this has largely stemmed from “organized retail theft” rather than one-off shoplifting.
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The statement about "organized retail theft” was made by a different person, some walmart executive, and the walmart executive does not provide any facts or numbers to backup their statement. So I would not put to much trust into their statement which is super vague.
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Is "organized retail theft" what they're calling self-checkout shrinkage?
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Maybe it's when an entire family is starving so badly they all go and steal to survive?
Or it's the Grocery Gangs of the north east. They'll get ya!
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I think a great example of “organized theft” is here: https://www.insider.com/man-con-home-depot-300000-store-credit-refund-doors-2023-8
Where in under a year using fake ids a man stole 300k from Home Depot, I feel like this stuff gets incorrectly conflated with stealing a loaf of bread or even a whole shopping cart of food or soap as if it was the same thing.
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300k
Thats like 0.002% of Home Depots profits in 2022. Just to put this number into some perspective.
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