Dollar Tree Joins Other Stores, Lock Up Items To Prevent Theft
Get ready for more fortified Dollar Trees and padlocked glass cases because the executives at multiple retailers are done joking around.
If you go to a pharmacy, you’ll notice a lot of items are locked up. Stores started doing this years ago. Theft was the main reason for items being locked up.
How Much Is It Affecting Stores?
According to CNN, Dollar Tree’s CEO and CFO, Richard Dreiling and Jeffrey Davis, said there was a drop in sales from 32.7% to 29.8% because of stolen items, damages to the stores and more.
Dollar Tree has done a lot of things to prevent theft from happening, but those changes seem to not be working because the problem is getting worse. Due to the increase issues the company is facing, they’ve decided to amp up some of their loss prevention methods.
Taking Drastic Measures
CFO of Dollar Tree, Jeffrey Davis, told CNN that they’re moving certain products from the open shelves to behind the checkout stand. They’re also adding cases to their shelves to lock up items. They’re even discontinuing items from their stores and locations because they can’t keep certain items on the shelves. To them, it’s easier to discontinue selling those items instead of trying to protect them from being stolen.
These few actions they’re hoping will cut down on theft and damages. They know that this change will end up costing them more money in the short run. But, they’re also hoping their sales will increase because of the precautions taken to combat theft.
More And More Stores Adapting This Old Strategy
According to Yahoo Finance, Dick’s Sporting Goods is following as well. They saw a drop in stocks and sales because of theft. In the near future, you will see more and more chain grocery, pharmacy, and retail stores making these changes probably, even if they’re not in loss profits. Everyone is just taking precautions, and it makes total sense.
What have you seen locked up recently? Did it make sense to lock up those items or keep them behind the counter?
We have more on this story in today’s edition of a Few Things You Should Know!