Why Walmart's CEO said stores may close and prices may go up even further

Walmart stores across the U.S. are grappling with an uptick in shoplifting that could lead to higher prices and closed stores if the problem persists, Walmart CEO said Tuesday. 

Walmart isn’t the only big-box retailer dealing with an uptick in theft. Last month, Target Chief Financial Officer Michael Fiddelke said shoplifting has jumped about 50% year over and year, leading to more than $400 million in losses in this fiscal year alone.