#803 - Walgreens Closing 5 More San Francisco Stores Due to Organized Crime

Walgreens said Tuesday that it will be closing another five San Francisco locations, citing the ongoing rampant theft plaguing the city.

"Due to ongoing organized retail crime, we have made the difficult decision to close five stores across San Francisco," a Walgreens spokesperson told FOX Business in a statement. "Each store will transfer prescriptions to a nearby Walgreens location within a mile radius and we expect to place the stores’ team members in other nearby locations."

"Organized retail crime continues to be a challenge facing retailers across San Francisco, and we are not immune to that," the spokesperson continued. "Retail theft across our San Francisco stores has continued to increase in the past few months to five times our chain average. During this time to help combat this issue, we increased our investments in security measures in stores across the city to 46 times our chain average in an effort to provide a safe environment."

Walgreens has shuttered at least 10 of its stores in the city since the beginning of 2019, according to the San Francisco Gate.

Join your host Sean Reynolds, owner of Summit Properties NW, and Reynolds & Kline Appraisal as he takes a look at this developing topic.

https://www.foxbusiness.com/retail/walgreens-closing-san-francisco-stores-theft

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