LogFAQs > #972851999

KillaHarkan posted...

It is quite odd to see. I wonder what prompted Walmart to close these stores.

KillaHarkan posted...

Walmart said in its announcement that it was shutting four sites in the city because the companys stores in Chicago overall have been unprofitable, losing tens of millions each year, and yearly losses have almost doubled since 2018.

Looking at the busy parking lot, Pfleger and the others were skeptical and questioned why the company didnt make other adjustments, such as eliminating the self-checkout option, which sometimes creates opportunities for theft.

It's right there, apparently the stores in chicago cumulatively lost tens of millions EACH year. Doesn't say whether it was shrinkage or other causes. I'm going to ASSUME so since the next thing is mentioned about self checkout making thefts more opportune.

If the assumption that they're closing down because of lost profits because Walmart works on razor thin margins as it is (this is an assumption based off of what you hear in general public) to outcompete the local community then the thing to do is target what is causing shrinkage. According to this website...

https://blog.gitnux.com/walmart-shrinkage-statistics/

Employee theft accounts for an estimated 43% of Walmarts inventory shrinkage.
Shoplifting accounts for 36% of Walmarts inventory shrinkage.
Vendor fraud accounts for 5.4% of Walmarts inventory shrinkage.

Basically 80% of the shrinkage is caused by the community itself if we're to believe it. But this is only shrinkage amongst ALL walmarts, and not just these chicago community walmarts. So the community can blame itself, maybe blame themselves for not spending enough money to satisfy walmart's profit greed.

Of course this is going off the assumption that shrinkage is causing 10s of millions in loss of profits.

I'd like to look at the numbers a bit more closely to see the actual cause of this loss of 10s of millions but we all know that won't happen. We can only speculate and wonder just like that poor community.

They're protesting to force the walmart to be responsible for what they've done. We all know that walmarts come in show low prices and kill all the mom and pop stores and when they close down start moving the prices back up. But here, they're leaving after killing off all local stores and leaving the place with absolutely nothing. This is why people DON'T want a walmart to move in, because it causes these kinds of incidents.