Walmart is eyeing store closings as the megaretailer grapples with an uptick in theft.
CEO Doug McMillon said on CNBC’s Squawk Box on Tuesday that shoplifting is “higher than what it has historically been” and could lead to higher prices and ultimately closed stores.
McMillon said a lax approach from prosecutors handling shoplifting cases could lead to store closures but that Walmart is doing its best to add preventive measures.
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“We’ve got safety measures, security measures that we’ve put in place by store location,” McMillon said. “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.”
He added that preventive measures vary city by city and location by location.
“It’s store managers working with local law enforcement, and we’ve got great relationships there for the most part,” McMillon said.
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Walmart has been at the center of national attention after store manager Andre Bing allegedly shot and killed six people and injured four. The suspected gunman then died from what law enforcement officers believe was a self-inflicted gunshot wound.
An employee who survived the shooting, Donya Prioleau, filed a lawsuit on Nov. 29, accusing the company of negligence for allowing the suspect to hold his management position despite receiving “numerous reports that [he] was bullying, threatening, and harassing other employees.”
