Walmart could close stores and hike prices because of scourge of shoplifting

.Walmart could close stores and hike prices because of scourge of shoplifting

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.“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.

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.”

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