Shoplifting will destroy NYC, and other cities. Maybe that should be "is destroying." NYC lost nearly half of all drugstores in past decade — with 10% closing just this year — as shoplifting and crime run rampant
Nearly 10% of New York City’s drugstores have closed this year — a dramatic drop following a decade of retreats that has slashed their number by 40% as shoplifting continues to run rampant, according an explosive study.
The number of Walgreens, Duane Reade, CVS and Rite Aid stores across the city shrunk to 395 locations in 2024. That’s versus 435 last year, and down sharply from a peak of 656 in 2014
It isn't rocket science. Stores can't make money if they are constantly being robbed. If they can't make money they will close. That seems fairly clear to me, but it is apparently mystifying to Democrat politicians in NYC. And in Chicago, Los Angeles, San Francisco, Seattle and the rest.
Crime isn't the only issue of course. Rent is an issue.
A Walgreens rep told The Post that the closings are driven by increased “regulatory and reimbursement pressures” that are “weighing on our ability to cover the costs associated with rent, staffing, and supply needs.”
The company has not directly tied its store closings to crime, but executives have said on earnings calls that “shrink” — which means theft in corporate speak — “represents a serious systemic issue across the retail industry.”
And it is leading to a lot of vacant store fronts in NYC.
Go read the whole thing. And also see my post on NYC from yesterday, about how the powers that be are waging war on the middle class.
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