Post #12873 by Lapsody on the US Policy board

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A Walgreens executive said this week that the company, which cited “organized” shoplifting as a reason to close five stores in San Francisco in October 2021, might have overstated the effect of theft on its business.

“Maybe we cried too much last year,” James Kehoe, the company’s chief financial officer, said during a Walgreens earnings call with investors.

Mr. Kehoe also said that the company had “probably” spent too much on security measures and that it might have mischaracterized how much theft took place in its stores.

Poorer neighborhoods are not where you make your money in Pharma. WBA is starting to report higher earnings and one of the things retailers do is cut the lower profit stores in poorer neighborhoods and look for middle class neighborhoods. It's normal to cut these stores, and it always has bad effects on the neighborhoods when they leave.

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