Walgreens CEO Admits Anti-Theft Measures in Stores Contributed to Company's $245 Million Operating Loss

Mar. 15, 2025

A Walgreens store in Philadelphia.Photo:Getty Images

Getty Images

Walgreenshas admitted that locking up products within its stores has affected its sales.

During a recentearnings call, Timothy Wentworth, the CEO of Walgreens' parent company, Walgreens Boots Alliance, detailed howanti-theftmeasures such as securing products in plastic cases or utilizing security tags impacted the chain’s annual earnings.

“When you lock things up … you don’t sell as many of them,” Wentworth said, adding: “We’ve kind of proven that pretty conclusively.”

During thefirst quarter of the 2025 fiscal year, Walgreens Boots Alliance said they saw an operating loss of $245 million.

Previously, the company saw a $39 million loss in the same quarter a year ago.

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Products locked up in a Walgreens store in New York.Lindsey Nicholson/UCG/Universal Images Group via Getty

Lindsey Nicholson/UCG/Universal Images Group via Getty

He remained vague on what Walgreens plans to do exactly, though, stating, “I don’t have anything magnificent to share with you today.”

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“We have a lot of experience with store closures,” the CEO explained during the earnings call. “Naturally, we expect our future footprint to support stronger performance.”

source: people.com