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Walmart CEO Warns Retail Thefts Will Lead To Price Hikes, Store Closures

Zero Hedge | Dec. 6, 2022

Walmart CEO Doug McMillon told CNBC’s “Squawk Box” that the massive wave of retail thefts at company stores will lead to higher prices or closed stores if the problem persists.

“Theft is an issue. It’s higher than what it has historically been,” McMillon told Squawk Box’s hosts. 

“We’ve got safety measures, security measures that we’ve put in place by store location. I think local law enforcement being staffed and being a good partner is part of that equation, and that’s normally how we approach it,” he continued.

Squawk Box’s Rebecca Quick then pointed out how certain cities have changed shoplifting rules, making it harder for police to prosecute criminals. She asked McMillon: “Does that matter?”

He responded: “If that’s not corrected over time, prices will be higher, and/or stores will close.”

Besides Walmart, Target complained last month about an organized retail crime wave, resulting in a massive hit on profits this year. The retailer employed theft-deterrent merchandising strategies, but that wasn’t enough to stop criminals from running off with everything on the shelves.

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6 Comments on Walmart CEO Warns Retail Thefts Will Lead To Price Hikes, Store Closures

  1. All a deliberate mission to destroy America’s economy and way of life. It is all an orchestrated plan by the. communist Bolsheviks in America to takeover everything in the USA. See 1917 USSR communist Bolshevik takeover. That is the blueprint of what is happening in the USA now!

  2. YES, I agree with the above comment except to add that I was also told by a Mexican person, that Mexico has a similar plan. Now that over 5 million illegals have invaded this country and it could be a much larger number, who come with
    empty pockets. Where do you think they, the invaders are going to get theirs? Their food, clothes, cars, places to live. Where ever they can. If they don’t have money and they are hungry, they may need to steal to eat. If they don’t have a car and need to get around, same story. Car thefts are also on the rise! Big Time! I have seen that in the news as well. So all you Democrats out there who say there is no
    problem with the southern invasion, you all and the Biden Crime syndicate are the cause of your Walmart, five finger discount friends. You brought this on yourselves.
    I won’t be sad if your Grocery store closes nearest you because of shoplifting!

  3. Walmart gave BLM millions of dollars. With their stand on alleged racism towards these precious black freaks, possibly they encouraged this? For the last few years all these retail stores did some serious black ass kissing, they pissed off whitey. Whitey shopped at amazon, fixed on their homes, sold them and moved to white enclaves of safety.

  4. What is the issue? The elite cabal have legalized theft up to $999 in order to put small businesses out of work. I’m sure the elitists that own Walmart and are behind these laws can afford to keep their doors open. If they fall short, just call upon their Rothschild Satanic connections to fire up their Federal Reserve fiat printers.

  5. Maybe if corporations were’nt bleeding us dry and impoverishing us with the obscene hike in their profits, leading to global inflation due to their GREED, the people wouldn’t have to stock up because they can’t afford anything any more. NEOLIBERAL THIEVERY needs to stop.

    • These thugs that are stealing from walmart are not poor oppressed angels. They pull up in nice cars and have nice homes. They live better than grandma who’s on social security. This isn’t preppers doing this. It’s negros.

      I’m no fan of Wal-Mart. They’re getting what’s coming to them. Instead of throwing the dindus out of the store, they hike prices on grandma.

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