"PUT THE CHECKERS BACK to work": Walmart retail theft and possible closure sparks backlash online 

Walmart CEO Doug McMillon stated on CNBC's Squawk Box that the retail corporation may close stores in certain areas due to an increase in shoplifting. McMillon has been the CEO since 2014, and he confirmed that the retailer went through an increase in shrinkage, resulting from in-store theft. He mentioned that if shoplifting is not corrected by law over time, it will lead to price jumps or the closure of stores.

McMillon told Squawk Box,

"If that’s not corrected over time, prices will be higher, and/or stores will close."

He added,

"Theft is an issue. It’s higher than what it has historically been."

Walmart is a convenient shopping store for many people because of its affordable price range. McMillon's statement made many people lash out at the company. One person blamed Walmart itself and wrote that they shouldn't have removed the cashiers from their stores.

Walmart reportedly loses $3 billion in U.S. sales annually as a result of employee theft and shoplifting. McMillon emphasized that local law enforcement must step in to handle cases of shoplifting to further prevent the stores from closing.

During the interview with CNBC, Doug McMillon added that the theft in Walmart is now,

“higher than what it has historically been.”

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People unhappy with the possibility of Walmart stores closing in the near future

The number of stores that might close and their locations were not disclosed by CEO McMillon. Walmart alone operates over 4700 stores in the United States and over 10,000 more in other countries. The company handles shoplifting using a city- and location-based pattern, the CEO informed us. He stated:

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

The situation is not limited to theft; it has also escalated into other serious crimes. A gas station owner from Philadelphia said he had to hire an armed guard to prevent possible crimes at his store. He addressed the different sorts of crimes and said:

"We are tired from all this nonsense: robbery, drug trafficking, [racketeering], all kinds of [crime]. I am fearful for my safety, my employee, as well as my nice neighborhood. All customer[s]."

Naturally, Walmart's regular customers are not pleased with the announcement. Some of them are trying to hold on to McMillon's words where he implied that the stores will not close in safe neighborhoods where crimes are strictly under control by local law.

One person claimed that Walmart was to blame for the increase in shoplifting because the company's product prices keep going up.

Netizens are criticizing Walmart, claiming that shoplifting is not the true reason for the closures. They want to do so because they want "higher profits."

Another person shared their experience at the retail store and said that during checkout, the bill amounted to an extra $2 than the shelf price. When the employee was asked about the reason, they replied that it had been happening the entire day. So, the shopper wrote,

"Theft comes form both sides!"

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In-store theft in other companies

The CEO of another big-name retailer, Home Depot, has commented on shoplifting. He said the surge in theft is only escalating from here "into an epidemic." He talked about how people are not just stealing. They’re walking into the stores, smashing things, and grabbing items.

He said:

“There's an entitlement out there that if you have it, you've worked hard to earn it. I want it. I'm just going to take it."

Retail Industry Leaders Association’s Lisa LaBruno said,

“(Shoplifters) will stop at nothing to get out of that store with the product. They’re identifying the product that they feel is in high demand, and...it’s almost like they have a Christmas list.”

Another nationwide retailer, Target, has faced the same issue with the uptick in shoplifting. The CFO, Michael Fiddelke, told CNBC that shoplifting has jumped up to 50% over the years, and during this current fiscal year, they have seen more than $400 million in losses.

According to a recent survey executed by the National Retail Federation, it was found that in 2021 alone, organized crime increased to 26.5%. Due to this, retailers went through almost $100 billion worth of loss.