“Varney & Co.” host Stuart Varney discusses Walmart potentially closing stores and raising prices due to the shoplifting surge in the U.S., arguing “we’re all going to pay for this” during his “My Take” Wednesday.
So, it’s come to this: Walmart, America’s biggest bricks and mortar retailer, has issued a warning about shoplifting. It’s so bad that they may have to close stores and raise prices. We’re all going to pay for this.
In the retail business, it’s called shrinkage. How much of the stuff on the shelves is stolen.
It runs to billions a year at Walmart, and the CEO says it’s getting worse.
WALMART CEO DOUG MCMILLON SAYS THEFT IS ‘HIGHER THAN WHAT IT HAS HISTORICALLY BEEN’
This shouldn’t come as a surprise. How many times have we shown you people walking into a store, loading up and walking out without paying, and without a peep from “security” guards.
It’s ok to take up to $950 worth of “necessities” in California: that’s an invitation to steal!
Many retailers are responding by locking up razor blades, cosmetics, batteries and just about anything else that you can walk out with. So, you have to spend time waiting for someone to unlock what you want. The stores are getting killed: you should just go to Amazon.
CRIME IN THE RETAIL WORLD MAKES FOR NOT SO HAPPY HOLIDAY SHOPPING SEASON
It’s easy to blame liberal district attorneys who take no action to stop this surge. And they do deserve some blame.
But there’s something else going on here: I think there’s a change in attitude towards theft. It’s now justified as taking what you’re entitled to, encouraged by laws which suggest if you “need” it, you should have it.
If this is the new morality, count me out!
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