Walgreens used this strategy to reduce theft. Turns out, it was bad for business
Over the years the pharmacy chain used strategy to combat shoplifting. Walgreens CEO Tim Wentworth said the company’s decision to lock up products after reporting a 52% increase in stolen inventory has backfired, according to multiple reports.
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 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 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 Says Locking Up Products Has Hurt Sales
The CEO of Walgreens admits that locking up products to deter theft is irritating paying customers and is hurting sales. The company has found that people will leave without buying products instead of waiting for an employee to unlock access to something as simple as a tube of toothpaste.
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 CEO describes drawback of anti-shoplifting strategy: ‘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.
Walgreens CEO admits anti-theft measures hurt sales: ‘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 ...
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.
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Walgreens: We Accidentally Proved Locks Are a Dumb Idea
Consider it a simple economic truth, one that ordinary Americans evidently knew long before CEOs: "When you lock things up ..
Walgreens CEO: Stopping shoplifting is a "hand-to-hand combat battle"
Walgreens is struggling to deter shoplifting at its stores, according to CEO Tim Wentworth, who described it as "a ...
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Walgreens targets PBM contracts, moves ahead with VillageMD sale
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Walgreens' Turnaround Takes Shape in Midst of Significant Q1 Losses
Walgreens, like other companies in the retail pharmacy space, has struggled with challenges related to low reimbursement and ...
Walgreens Pharmacy Strength And CEO Comments Toss Cold Water On Private Equity Deal
Walgreens improving pharmacy business and comments from the company’s CEO are convincing Wall Street that the drugstore won't ...
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Walgreens Admits Controversial Policy Backfired and Shoppers Aren't at All Surprised
In a recent call with analysts, Walgreens CEO Tim Wentworth said preventing theft in stores "is a hand-to-hand combat battle ...