Posted by on November 23, 2021 7:02 pm
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Best Buy CEO says employees traumatized by rise in thefts

FILE – Shoppers enter and exit a Best Buy store in Arlington Heights, Ill., Saturday, Feb. 6, 2021. Best Buy Co. is raising its full-year sales outlook after the nation’s largest consumer electronics chain posted fiscal second-quarter results that beat analysts’ projections. Best Buy joins a slew of other retailers including Walmart, Target and Macy’s that have posted strong results for the quarter, underscoring that the consumer remains resilient. (AP Photo/Nam Y. Huh, file) Nam Y. Huh/AP

Best Buy CEO says employees traumatized by rise in thefts

Ryan King November 23, 06:16 PMNovember 23, 06:16 PM

Best Buy CEO Corie Barry says employees are being traumatized by the rise in burglaries in its stores.

Although the company beat third-quarter earnings expectations, Barry said increased organized crime has put pressure on the company’s financial situation and threatens employee retention.

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“We are seeing more loosely organized groups come together and target our stores, and frankly, you are seeing it across retail,” she said in an interview with CNBC. “For our employees, these are traumatic experiences, and they are happening more and more across the country.”

Barry said the company is taking steps, including locking up more of its products and hiring more security, to combat this problem. She emphasized that employee safety is the company’s highest priority and said this was a “horrible change” in the trajectory of the business.

She said San Francisco, specifically, was a trouble spot but noted that this problem has been prevalent across the country, according to CNBC. Barry said some individuals entered Best Buy stores with weapons such as crowbars and guns, the outlet reported.

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Theft, and in some cases instances of organized theft, is on the rise across the country with stores already under siege from pandemic restrictions and supply chain hiccups.

A survey published in August by the National Retail Federation found that nearly 70% of store owners reported a significant increase in retail crime during the pandemic.

Over the weekend, footage of looters raiding a Nordstrom in California went viral on social media. California Democrat Gov. Gavin Newsom announced Monday that the state was going to crack down on looters and push back against district attorneys who refuse to prosecute them.

© 2021 Washington Examiner

Originally appeared at Washington Examiner

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