Rising thefts at Walmart, $WMT, could lead to price jumps, store closures

Per CNBC: Walmart is seeing rising thefts.

CEO McMillion has said that this could lead to store closures, and price hikes.

“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,” McMillon said.

Last month, Target Chief Financial Officer Michael Fiddelke said shoplifting has jumped about 50% year over and year, leading to more than $400 million in losses in this fiscal year alone.

See original article: https://www.cnbc.com/2022/12/06/walmart-ceo-says-shoplifting-could-lead-to-price-jumps-store-closures.html