Walgreens Says Locking Up Products Has Hurt Sales

The CEO of Walgreens admits that locking up products to deter theft is irritating paying customers and is hurting sales.

The company has found that people will leave without buying products instead of waiting for an employee to unlock access to something as simple as a tube of toothpaste.

"It is a hand-to-hand combat battle still, unfortunately, but it does impact how sales work through the store because when you lock things up, for example, you don't sell as many of them," Timothy Wentworth - Walgreens Boots Alliance CEO said on a recent earnings call.

He said after meeting with the head of asset protection there are "creative things" the company is looking at to combat theft while improving the customer service.

But Wentworth admitted that he didn't have "anything magnificent to share" about it.

He says the customer experience needs to be improved in stores.

"We've kind of proven that pretty conclusively," Wentworth said.

The company has reported a 50% increase in shrink, which is industry jargon for products that have been stolen or lost.

The struggling company has been shuttering hundreds of stores as it works to improve revenue. The company says it still has work to do but the results have been positive.