Life

Best Buy CEO Says Trauma from Surging Thefts Could Worsen Labor Challenges

The Best Buy CEO thinks that the rising number of retail thefts at stores across the country could lead to a labor shortage, and could impact profits.

Image of Best Buy store in New York
Image via Getty/Bruce Bennett
Getty

Thieves targeting Best Buy stores are posing a safety risk to employees and could impact the labor market – specifically profits.

Best Buy CEO Corie Barry said that organized groups of thieves are bombarding locations, grabbing merchandise, and fleeing the store, according to Business Insider. Burglars sometimes arrive armed as well—with crowbars or guns—endangering workers. Company policy dictates that employees not intervene during thefts.

“You can see that pressure in our financials, and more importantly, frankly, you can see that pressure with our associates,” Barry told CNBC. “This is traumatizing for our associates and is unacceptable.” She also explained that these incidents are happening more across the U.S.

Barry told the outlet that San Francisco and other California cities have become “hot spots” for burglaries. Sometimes groups of over a dozen people will target a store, and other times, it’s just a couple of people.

Best Buy will be boosting security and locking up more merchandise. Customers will also soon be able to use the mobile app in-store to scan and pay for their items and collect them at the counter.

Last weekend, a Nordstrom near San Francisco was hit by a masked group of 80 people, brandishing “crowbars and a bunch of weapons” and swarmed the store.

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