Due to organized theft, more Walgreens stores will close in this city: Is Your Geographical Location Affected?
Walgreens (WBA) is closing five more stores in San Francisco due to organized retail theft, as customers continue to openly shoplift from its stores.
The businesses will close in November, according to SF Gate. “Retail theft throughout our San Francisco shops has continued to climb in the previous few months to five times our chain average,” Walgreens spokesperson Phil Caruso told the Associated Press. According to the Associated Press, Walgreens has closed at least ten shops in San Francisco since the beginning of 2019. Despite the retailer’s efforts to improve security, Caruso claims that mass shoplifting has worsened.
According to the San Francisco Chronicle, one of the Walgreens stores that shuttered in the city in October 2020 on Van Ness Avenue was losing an estimated $1,000 a day in stolen items. According to the news organization, shoplifting occurred frequently in broad daylight during that month, with no care for being caught.
In recent months, videos of people blatantly stealing from stores have gone viral, prompting an increase in theft instances across the United States.
“This is a sad day for San Francisco,” said Ahsha Safai, Walgreens’ San Francisco area supervisor, when asked about the loss of one store on Mission Street. We can’t keep allowing these vital institutions to shut when so many people rely on them.” Walgreens store closures are affecting locations at:Target has also closed stores in San Francisco due to a high theft rate, according to SF Gate. Other businesses in the vicinity have cut back on their hours, closing earlier than usual to combat evening crime.
Theft of less than $950 in goods is considered a nonviolent misdemeanor in California.
Walgreens’ stock was trading at $47.65 in premarket hours on Wednesday, up 23 cents, or 0.49 percent.