The crime wave unleashed by Democrats on America in 2020 continues, and some Walmart stores might find themselves closed in the face of theft levels that make them unprofitable. FoxBusiness’s Aislinn Murphy reports on the comments of Walmart CEO Doug McMillon:
Walmart CEO Doug McMillon on Tuesday became the latest retail executive to weigh in on theft, describing it as an “issue” that has worsened.
During his appearance on CNBC, McMillon said theft is “higher than what it has historically been.” He explained Walmart has safety and security measures “that we’ve put in place by store location” to help combat the issue.
“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 added.
In mid-September, the National Retail Federation found total losses from shrink, a term retailers use for theft and other types of inventory loss, increased to $94.5 billion in 2021. Organized retail crime incidents soared 26.5% on average in the same year, according to the 2022 National Retail Security Survey.
The Walmart CEO also said during his CNBC appearance that “prices will be higher and/or stores will close” if authorities not being strict about prosecuting theft isn’t “corrected over time.”
McMillon, responding to a separate question about what he’d like from policymakers, mentioned “policy consistency and clarity so we can make capital investments with some vision.”
Action Line: Crime has been unleashed in big blue cities across America, where Democrats have put more emphasis on helping criminals get out of jail than on protecting victims. If you live in a crime-ridden city, it’s time to look for a better America. Start your search with my 2022 Super States, and remember, even in red states, it’s the big blue cities pushing up crime rates. Choose wisely. And, be one of the first to receive my 2023 Super States by clicking here to subscribe for my free Survive & Thrive letter.