Walmart Prices Could Rise, Stores May Close Due to Theft, CEO Tells CNBC
(www.marketwatch.com)
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The only reason anyone shops at Walmart is because of the low prices. Raise the prices and no one shops there.
Sounds like they're about to enter a death spiral.
We’ve had a couple decades where retail stores pursued a “Hands off” policy. Meaning no employees could actually intervene to stop theft and putting hands on the thieves at all for any reason. Even to escort them out of the building. Can make the both the employees and Company involved criminally, legally, and financially liable. If say for instance the thief is injured in the process. Or decides to pursue a case for assault against the employees.
Companies both large and small are in essence left relying on the police. Who basically either need to catch them in the act. Or Security Cameras need to catch a license plate. Without that there’s not much they can do. That’s presuming it’s even in an area where they have resources to devote to pursuing retail theft. Some areas have more pressing problems.
Coincidentally since the “Hands Off” became common policy. Theft has skyrocketed. The no prosecution for thefts under X or Y amount laws that got passed in liberal crapholes. Only removed the necessity to be stealthy about what and how much their taking.
I’m shocked though it’s gotten bad enough that Walmart is saying something. They write off a billion or more in shrink a year. For it to be affecting them. That must have skyrocketed
They have already jacked their prices sky high. It is now cheaper to shop at the previously pricy grocery stores. In fact, I think they had seen a loss of sales because I've seen some prices come back down. Maybe theft is just an excuse to start hiking prices again.
Maybe they should hire cashiers. A lot of people don’t steal they just make mistakes or miss items.