Retailers have been faced with increases in shoplifting and retail theft. But anti-theft prevention can hurt retail sales, says the CEO of Walgreens.

Walgreens is struggling to deter shoplifting at its stores, according to CEO Tim Wentworth, who described it as "a hand-to-hand combat battle still, unfortunately."

The CEO of Walgreens suggested that placing their products under lock and key may have actually backfired. "When you lock things up … you don't sell as many of them," he said. Walgreens’ plan to combat increasing theft by locking products up at their stores has hurt sales,

Despite efforts to prevent retail theft, Walgreens reported a 32% in "shrink," or a loss of inventory that can’t be accounted for through sales.