Posted on 11/16/2022 5:08:36 AM PST by MrRelevant
Target stores are getting looted, and it's taking a huge bite out of profits.
The discount retailer told reporters on a call to discuss its third quarter earnings results that inventory shrinkage — or the disappearance of merchandise — has reduced its gross profit margin by $400 million so far in 2022.
"There's a handful of things that can drive shrink in our business and theft is certainly a key driver," Target CFO Michael Fiddelke said. "We know we're not alone across retail in seeing a trend that I think has gotten increasingly worse over the last 12 to 18 months."
(Excerpt) Read more at finance.yahoo.com ...
I wonder if Target passes this loss on to customers.
The korporate executives really thought the policies they supported would harm smaller businesses that couldn't cover the losses like a multi-billion dollar retailer could.
Going broke? Get woke and go really broke.
Does Organized retail crime have a stock symbol yet??!!
With the Democrats running things this should see huge growth.
“I wonder if Target passes this loss on to customers”
Couldn’t tell ya....I wouldn’t go into a target to throw up.
Maybe it’s God’s discipline for a woke agenda and gender neutral bathrooms.
Of course they do. But they deserve what they get because they back the people who have allowed criminals to loot stores.
They aren’t thieves if they identify as paying customers.
Good.
They should release a report, which they surely have, detailing the locations and losses. But, of course, they will not, because they will be in locations that are democrat strongholds and crime is just a theory.
Perhaps if they invested in security as opposed to ‘diversity’ they’d avoid this.
Problem is the police take 2 hours to show up. Most states have a limited amount of time to ‘legally detain’ a shoplifter. After that the perp can sue. Seriously. That’s how the laws are written.
So the stores just let people walk out. There’s also the risk a worker could be punched or shot trying to stop a shoplifter or injure the perp and the store be sued over that.
Then in the rare instances there are charges brought by police doing their jobs, the Soros DAs dismiss the cases because of system racism etc.
The stores then leave ‘high crime areas’ and area, again, accused of racism.
There was a mini-mart type place in one town that was being ransacked by ‘youths’ as they left school every day. Solution? Just shut the store for two hours until the mob of chirren’ passed by. Local activists protested this horrible act of racism and the store simply closed down. Which of course is blamed on more racism.
Retail stores are going the way of the dinosaurs. Too much overhead, rent, insurance, theft. Easier to let Amazon sell everything.
I don’t go to Target anymore. The one where I live now caters only to Africans. There isn’t much in their store anymore that would interest them “white supremacist” folks.
Hey target, enjoy your black Friday!
Large screen TVs are free at Target, during riots.
I’ve seen this sale on the news, multiple times.
Just go when they are celebrating Black Lives Matter days.
It appears that they were targeted by thieves.
That's either rhetorical or, a really dumb question.
There are a lot of former Target customers who feel the same way.
No. When the Lord finally closes the books on this, it's going to go waaay beyond mere "shrinkage" of a corporate retail store.
Ok, so a lot of minority yutes finally got jobs in their chosen profession, isn’t that a Good thing??
Sorry how that sounds but that's just the way it is. In addition, I see them on the commuter rails not having to show their tickets to the conductor either. Unless they willingly show their tickets, the conductor just keeps moving along. I see it all the time. I guess it's just not worth the hassle to the conductor and they also risk an altercation and possible loss of their job.
If you are a clean cut, well dressed person, you better believe the conductor will ask for your ticket every time and if you walk out of a store with so much as a pack of chewing gum, you will get stopped.
But if you look "gangsta" and threatening, with wild hair, tattoos, and the like, store employees just won't hassle you. Doesn't matter what race you are either. Law abiding people in the inner cities are wired to avoid confrontation. Just look the other way and mind your own business...or get yourself shot, stabbed, or pushed in front of a train.
Isn't gun control great? Unarmed citizens have to keep their heads down while the criminals are given free reign of the streets.
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