Walgreens CEO Tim Wentworth said the company's added security efforts to prevent theft, such as locking up popular items behind glass doors, have backfired over the years. Wentworth's acknowledgment came during the company's first-quarter earnings call with investors on Tuesday, Jan. 14. "It is a hand-to-hand combat battle still, unfortunately," Wentworth said. "But it does impact how sales work because when you lock things up, for example, you …

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Kron 4 News

San Francisco

San Francisco County

California

United States

Walgreens CEO admits downside to locking up items

Keeping products under lock and key dissuaded customers from purchasing them, Walgreens said in earnings call.

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CBS News

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Michael Redstone

Walgreens says locking up products to prevent shoplifting hurts sales

In an earnings call, executive Tim Wentworth conceded that locking products up might not be the best move for boosting sales.

HuffPost

Roberts family

Verizon Communications

Walgreens Admits What Many Already Suspected About Anti-Theft Measures

While locking up merchandise can reduce theft, it also deters paying customers, according to Walgreens.

Alabama Live

Alabama

Walgreens used this strategy to reduce theft. Turns out, it was bad for business

Walgreens' CEO talked about the flip side of investing in increased security on a recent earnings call.

Fortune

Chatchaval Jiaravanon

New York

Walgreens CEO says anti-shoplifting strategy backfired: 'When you lock things up…you don't sell as many of them’

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Salem Media Group

Try Locking Up the CRIMINALS Instead! Walgreens CEO Says Shoplifting Prevention Led to Decline in 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, unfortunately."

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Walgreens CEO says locking up merchandise harmed sales

(KRON) -- Many retail stores across the Bay Area have turned to locking up commonly stolen items to prevent against shoplifting. But there is a downside to that tactic, Walgreens CEO Tim Wentworth said. "When you lock things up, you don't sell as many of them. We've proven that pretty conclusively," he said on an earnings call on Friday of last week. Two Walgreens stores set to close in Oakland Stores lock up the items so they can't be lifted ea…

Nexstar Media Group

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.

Staten Island Advance

Advance Publications

Richmond County

Locking up products to combat shoplifting is bad for business, drugstore CEO reports

The company is taking "creative" steps to address the issue, CEO Tim Wentworth says

Salon

Chris Richmond (entrepreneur)

Walgreens CEO: Stopping shoplifting is a "hand-to-hand combat battle"

Walgreens Boots Alliance CEO Tim Wentworth conceded that locking up products in order to combat retail theft had a negative impact on stores. During an earnings call on Friday, executives reported a 52% increase in "shrink," or a loss of inventory that can’t be accounted for through sales. The increase in loss of inventory comes after the pharmacy giant's efforts to crackdown on shoplifting, which Wentworth suggested may have actually backfired.…

Fox Business

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Walgreens CEO reveals anti-theft measures of locking up products had the opposite effect

Walgreens says locking up products to prevent shoplifting hurts sales

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