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Walmart CEO Warns That Locations May Be Force To Shutdown Stores And Raise Prices If Theft Rates Continue To Skyrocket!

Cousins! In response to a trend in shoplifting, the CEO of Walmart is warning folks that if theft doesn’t come to an end not only will prices begin to rise but stores will also began to shutdown!

According to the New York Post, Walmart CEO Doug McMillion has come forward to state that the retail chain has been experiencing an alarming increase within stolen merchandise. He explains that if the growth within shoplifting doesn’t come to an end in areas where ‘soft-on-crime’ tactics are taken he’ll have to enforce other measurements.

“Theft is an issue. It’s higher than what it has historically been,” said Doug earlier this month. “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 continues. “If that’s not corrected over time, prices will be higher, and/or stores will close.”

With a total of 4,720 reported stores in the U.S and over 10,000 location across the world, Doug hasn’t made it clear whether or not which specific locations could experience closures. He does explain that a city by city strategy is currently in the works.

“It’s store managers working with local law enforcement and we’ve got great relationships there for the most part,”says Doug.

The current trend in shoplifting is referred to as, “organized retail crime.’

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