In a December 6th interview on CNBC Squawk Box, Doug McMillon CEO of Walmart,  indicated the rise in shoplifting, noting “If it is not corrected over time, prices will be higher, and stores will close.”

Competitor, Target Corporation, declared a loss of $400 million from shoplifting over the past fiscal year, a 50 percent increase over 2020 during a period of reduced store visits due to COVID. 

According to The Hill the National Retail Federation estimates that the rise in losses is mostly due to organized crime contributing to an annual loss of $100 billion.

Reuters estimated in 2015 that Walmart lost $3 billion but with inflation and the passage of time, the actual amount is obviously higher. The Company has not disclosed an actual amount but the magnitude is probably proportional to the loss declared by Target Corporation based on sales.