Stealing Could Force The Closure Of Walmarts In Maine & Elsewhere
When I was younger, my mother was always reminding me that a few people being jerks can ruin something for everyone.
It was true then and it is still true today.
This rule can even apply to businesses.
According to WGME, in a recent TV interview, Walmart CEO Doug McMillon explained that Walmart is having a tough time dealing with the unprecedented amount of shoplifting that has been occurring at many of their stores in the last few years.
McMillon explained that, if the trend continues, the retail giant will have to change how they operate. And, if that is not enough, we'll see the chain's prices increase and / or the closure of certain stores.
Of course, this is where an armchair chief financial officer or armchair chief executive officer starts talking about how the thefts are okay because of the company's perceived business practices, what they pay their employees, the benefits they offer their employees, etc. Whatever you believe, it is not okay for people to steal from other people or steal from companies. Theft is wrong.
And, many millions of people are able to live better lives because of the discounted prices stores like Walmart sell their products for. Some people cannot afford to pay $1,000 for a piece of furniture, but they can afford the Walmart version for $120. Some people cannot afford to pay full price for OTC medication, but they can afford the Walmart Equate brand.
According to Yahoo Finance, Walmart is not the only company dealing with these issues. The article explains that Target recently saw $400 million in loses due to theft.
Why are we, all of a sudden, hearing that this is a problem? In many areas, laws have changed. Small thefts (under $1,000) have been basically decriminalized.
How long before we see prices increase? How long before the retail chain decides to close stores? What stores would close? We don't know. Hopefully, people will smarten up and we can continue to enjoy the discounted offerings at Walmart for years to come.