Rite Aid reports $5M in losses in recent quarter

 Shoplifting cost Rite Aid $5 million in its most recent quarter, with its New York stores taking the hardest hit.

In response the pharmacy chain is testing and deploying new security and theft prevention strategies, according to a Business Insider report.

One approach could include securing "everything," via a lock and key, according to Arnaud Persaud, the company's chief revenue officer.

The company made the announcements during its latest investor call.

"We're looking at literally putting everything behind showcases to ensure the products are there for customers who want to buy it," Persaud said during the call. "We've even had to go to the extent of using off-duty police officers in some of our stores."

https://www.marketscreener.com/quote/stock/RITE-AID-CORPORATION-57476359/news/Rite-Aid-reports-5M-in-losses-in-recent-quarter-41916587/