Fuck all these Rich MoFos...
Walmart CEO Doug McMillon announced during an interview on CNBC last week that the retailer may have to raise prices or close stores due to insufficiently aggressive prosecution of retail theft. McMillon claimed that, as a result of lenient sentences, theft at Walmart is “higher than what it has historically been.” During the interview, McMillon does not disclose how much merchandise Walmart is losing to shoplifting or how that compares to previous years.
Walmart, the nation’s largest retailer, racked up $559.2 billion in revenue last year. So far this year, the company has made $15 billion in profits. Last quarter alone, Walmart recorded $152.8 billion in sales, nearly a 9% increase from the previous year. The purported spike in shoplifting at Walmart did not stop the company from announcing a new $20 billion share buyback plan last month.
