Former Home Depot CEO Bob Nardelli and business analyst Carl Gould warn of a retail theft 'epidemic' which 'emboldens' more crime that 'only escalates from here.'
"I think local law enforcement being staffed, and being a good partner is part of that equation, and that’s normally how we approach it," McMillon added.
Some retailers have taken rising crime and thefts into their own hands by hiring armed guards or policemen to keep watch. Walmart joins the growing list of retailers feeling the wrath of raging theft and crime across the nation ahead of the holiday shopping season. Drugstore companies like Rite Aid, CVS and Walgreens haveThe Home Depot also recently expressed it was "outraged" when an elderly workerWhile former Home Depot CEO Nardelli called the tragedy "very, very unfortunate" and "sad," he put the onus on the Biden administration to get a hold on rising crime.
"Now it has elevated to the point where you've got Doug McMillon talking about impacting earnings. And this is another silent contributor to inflation," Nardelli said. "Our associates are afraid. The retail salespeople are afraid. Consumers are afraid. We've got to get control of this. And if the administration doesn't get control of this, they're abdicating it to the businesses, both public and private.
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