Walgreens executive says 'maybe we cried too much last year' about theft
Publishing timestamp: 2023-01-05 16:07:43
Summary
Walgreens CFO James Kehoe acknowledged that the company may have overreacted to theft concerns in their stores after shrinkage stabilized over the past year. The company had invested in private security guards, but they have proven largely ineffective. Walgreens is now considering moving away from hiring private security guards and using more law enforcement instead. Other retailers such as Walmart and Target have also reported shrinkage as a growing concern.
Sentiment: NEUTRAL
Keywords: target corp, walmart inc, walgreens boots alliance inc, business, james kehoe, theft, business news, retail industry, crime,
Source: https://www.cnbc.com/2023/01/05/walgreens-may-have-overstated-theft-concerns.html