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Source: https://www.cnn.com/2021/11/23/business/best-buy-retail-theft/index.html
Best Buy CEO: Jump in theft is traumatizing staff
By Parija Kavilanz, CNN Business
Updated 3:55 PM ET, Tue November 23, 2021
New York (CNN Business)Best Buy CEO Corie Barry said theft is a growing problem at the company's stores — and it is implementing added security measure to safeguard employees and shoppers.
"This is traumatizing for our associates and is unacceptable," Barry said on a call with analysts Tuesday. "We are doing everything we can to try to create [an] as safe as possible environment."
Barry said the company is implementing a number of tactics to minimize theft and protect staff and customers. For example, Best Buy is locking up more products and hiring security when appropriate.
Barry said organized retail crime is on the rise at Best Buy. The tactic involves an organized "gang" of people who steal entire shelves of high-value products, such as electronics, to resell them for a profit.
The crime surge is becoming such a problem that it is hitting Best Buy's (BBY) profits and could hurt its ability to retain and attract more employees in a tight labor market, Barry said in an interview Tuesday on CNBC's "Squawk on the Street."...
Best Buy CEO: Jump in theft is traumatizing staff
By Parija Kavilanz, CNN Business
Updated 3:55 PM ET, Tue November 23, 2021
New York (CNN Business)Best Buy CEO Corie Barry said theft is a growing problem at the company's stores — and it is implementing added security measure to safeguard employees and shoppers.
"This is traumatizing for our associates and is unacceptable," Barry said on a call with analysts Tuesday. "We are doing everything we can to try to create [an] as safe as possible environment."
Barry said the company is implementing a number of tactics to minimize theft and protect staff and customers. For example, Best Buy is locking up more products and hiring security when appropriate.
Barry said organized retail crime is on the rise at Best Buy. The tactic involves an organized "gang" of people who steal entire shelves of high-value products, such as electronics, to resell them for a profit.
The crime surge is becoming such a problem that it is hitting Best Buy's (BBY) profits and could hurt its ability to retain and attract more employees in a tight labor market, Barry said in an interview Tuesday on CNBC's "Squawk on the Street."...