Walmart May Raise Prices Due to Theft
CNBC says Walmart may raise prices because holiday shoplifters are raiding their stores. The company is seeing a significant rise in shoplifting, which are the same comments made by Target last month. Target expected a total loss of more than $600 million for the year. So it seems the big stores are all experiencing the same issue this year.
Theft that’s often going unchecked by local law enforcement could force Walmart to raise prices or even close some stores. Walmart CEO Doug McMillon says, “Theft is an issue. It’s higher than what it has historically been. 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.”
What happens when the cost of your favorite items, whether food, household products, make-up, toys, electronics, or otherwise, ends up increasing, while your pay relatively stays the same?
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