American pharmacy store chain Walgreens has discovered that locking its wares behind lock and key in an apparent effort to stop shoplifters has backfired spectacularly. As Fortune reports, the company has been battling with a major year-over-year decline in earnings and announced it would close an additional 450 stores across the country this year.

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' strategy of locking up merchandise — from deodorants to bags of M&M's — to deter theft has backfired, according to CEO Tim Wentworth.

Some retailers, like Walgreens, report that locking items behind displays to deter shoplifting may not be effective. Walgreens CEO Tim Wentworth recently described theft prevention in stores as an ongoing and challenging struggle.

Walgreens’ strategy of locking up merchandise — from deodorants to bags of M&M’s — to deter theft has backfired, according to CEO Tim Wentworth. “It is a hand-to-hand combat battle still, unfortunately,