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,
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 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 says locking up products from shoplifters hurt sales
Keeping products under lock and key dissuaded customers from purchasing them, Walgreens said in earnings call.
Walgreens CEO Admits Locking Items Up Was Bad For Business, Consumers React
Walgreens struggled financially last year, reporting an operating loss of $245 million for the quarter, compared to $39 million in the same quarter the previous year, according to Quartz. The company’s decision to lock up products was a response to a 52% increase in stolen inventory, but the method ultimately backfired.
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 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.
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