Walgreens CEO Admits Locking Up Products Backfired, Sales Decreased
In a Q1 2025 earnings call, Walgreens Boots Alliance CEO Tim Wentworth admitted that its approach to tackling shoplifting at its stores has backfired. Per Fortune, Wentworth spoke about the state of the company,
Locking up products to combat shoplifting is bad for business, drugstore CEO reports
STATEN ISLAND, N.Y. -- While many big-box chains now lock up merchandise as a means of combatting theft -- requiring shoppers to buzz for help in releasing a stick of deodorant or pack of disposable razors -- at least one retailer has publicly admitted that the practice is bad for business.
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 down on rampant shoplifting that has plagued pharmacy chains around the country.
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 hand-to-hand combat battle still, unfortunately."
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 from shoplifters hurt sales
Keeping products under lock and key dissuaded customers from purchasing them, Walgreens said in earnings call.
Walgreens CEO on shoplifting strategy: 'Lock things up ... you don't sell as many'
Retailers have been faced with increases in shoplifting and retail theft. But anti-theft prevention can hurt retail sales, says the CEO of Walgreens.
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 used this strategy to reduce theft. Turns out, it was bad for business
While locking up merchandise can reduce theft, it also deters paying customers, according to Walgreens. Over the years the pharmacy chain used strategy to combat shoplifting. CEO Tim Wentworth said the company’s decision to lock up products after reporting a 52% increase in stolen inventory has backfired,
Bossip13h
Walgreens CEO says loss prevention caused theft
Walgreens CEO Tim Wentworth tells shareholders that loss prevention by locking up inventory caused increased theft ...
HealthLeaders Media3d
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 ...
Locked shelves flop says Walgreens CEO as Bay Area stores shutter to save $1B
Walgreens’ strategy of locking up merchandise — from deodorants to bags of M&M’s — to deter theft has backfired, according to ...
This All-In-One Grooming Gift Is the Perfect Valentine’s Gift for the Man in Your Life
Plus, its compact size makes it perfect for small work teams of up to seven people. With a reasonable price tag just south of ...
Crain's New York2d
Anti-shoplifting effort is hurting sales, Duane Reade parent says
Tim Wentworth, CEO of Walgreens Boots Alliance, the parent company of Duane Reade, acknowledged to investors during a Jan. 10 ...