Rite Aid is contemplating putting all store goods in showcases in New York City in an effort to curb retail theft, according to a report from Fox 5 New York.
Rite Aid posted a $331.3 million net loss for theof fiscal 2022, up from $100.3 million a year prior. Matt Schroeder, Rite Aid's CFO, said during the earnings call that Rite Aid's front-end gross profit was "impacted by a $5 million increase in shrink."
During the earnings call, Persaud noted that Rite Aid has made progress on "improving our product protection, improving our organized retail client program" and stated the drug store chain's goal is to "stay in the communities." "We're looking at literally putting everything behind showcases to ensure the product's there for customers who want to buy it," he said.
Other actions Rite Aid has considered include operating a "pharmacy only and as a pharmacy prescription-only format in some of the communities," he said. The company has also placed off-duty police officers in some stores. reached out to Rite Aid for comment on the matter. Rite Aid closed locations in New York's Hell's Kitchen and Upper East Side neighborhoods earlier in the year.
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