Walgreen’s employee: “Items are stolen faster than we can restock them...so we don’t.”
SF is collapsing on itself and no politicians/police are fighting the problem.
cc: @chesaboudinpic.twitter.com/sHhfaREUad
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Please tell me how the cost of labor affects their decision to close. Please tell me what percentage of profits companies get from merchandise sold in stores. Please explain how prop 47 effects these issues. Please explain how much these companies profit yearly
Walgreens published some information around the store closures. Apparently, the SF stores generate a high level of revenue, but also have far higher security costs and shrinkage (theft) costs. Shrinkage costs in SF stores have doubled in the last year according to Walgreens.
Walgreens doesn't note if salary and occupancy charges are higher, but I imagine they are (tho maybe those are offset by higher prices?). It might be possible to do the math on a per store basis and infer whether the net impact of all of these factors pushes margins negative.
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