The chain plans to close down 22 locations in the US before the end of 2023. Shoplifting has also cut into the chain's bottom line. The chain plans to close down 22 locations in the US before the end of 2023. "Theft is an issue. It's higher than what it has historically been," Walmart CEO Doug McMillon told CNBC in December. If the problem isn't addressed, " prices will be higher, and/or stores will close," he said. The company is also scaling back its warehouse workforce.