Theft at Walmart is so Bad CEO Says Company Will Need to Close Stores
Doug McMillon, the CEO of Walmart, issued a dire warning on Tuesday: If theft does not abate, the retailer will close locations all across the country.
2 min readDec 8, 2022
Doug McMillon, the CEO of Walmart, issued a dire warning on Tuesday: If theft does not abate, the retailer will close locations all across the country.
He told CNBC that “Theft is an issue. It has increased from its previous level.” [1]
“If that isn’t fixed over time”, he continued, “prices will go up and/or stores will close.” [1]
How much money Walmart has lost this year due to stolen goods was not disclosed by McMillon during the conversation. A request for that number from Insider received no immediate response from Walmart.
But according to Reuters’ 2015 research, the largest retailer in the world likely loses approximately 1% of its US revenue, or about $3 billion annually, to theft by consumers and workers. [1]
