Walgreens says it is closing five more of its stores in San Francisco because shoplifters are making them unprofitable. The chain has closed at least 10 stores since 2019 because of "organized retail crime".
AP reports that Walmart had to shut down one store that had been losing $1,000 every day to shoplifting.
From SF Gate:
"Organized retail crime continues to be a challenge facing retailers across San Francisco, and we are not immune to that," said Walgreens spokesperson Phil Caruso. "Retail theft across our San Francisco stores has continued to increase in the past few months to five times our chain average. During this time to help combat this issue, we increased our investments in security measures in stores across the city to 46 times our chain average in an effort to provide a safe environment."
The drugstore chain hopes to relocate employees from closing stores to other nearby locations.
San Francisco Board of Supervisor Ahsha Safai of District 11 said he was "devastated" by the loss of the store on Mission Street on Twitter, writing "I am completely devastated by this news – this Walgreens is less than a mile from seven schools and has been a staple for seniors, families and children for decades. This closure will significantly impact this community."
