Posted on 05/17/2023 8:16:44 AM PDT by CFW
Target (TGT) has become a target for major thefts, and it's taking a huge chunk out of profits.
The retailer estimated in its earnings release Wednesday that inventory shrinkage — mostly the theft of merchandise — would clip profits by a whopping $500 million this year. Factoring in an about $700 million profit hit from inventory shrinkage in 2022, Target is on pace to see $1.2 billion in profits go up in smoke, due primarily to organized retail crime.
Target Chairman and CEO Brian Cornell says the problem is getting worse, is nationwide, and across various merchandise departments.
"The unfortunate fact is violent incidents are increasing at our stores and across the entire retail industry. And when products are stolen, simply put they are no longer available for guests who depend on them," Cornell said on a call with reporters.
(Excerpt) Read more at finance.yahoo.com ...
Shrinkage!
“the problem is getting worse, is nationwide, and across various merchandise departments”
Interestingly enough all work boots are left completely untouched.
When all the retailers/grocers eject, the usual harpies will whine about “food deserts”... then blame America, capitalism and whitey.
There is a well known ethnic group prone to violence.
Target’s demise started when they very openly supported people who don’t know which bathroom to use. Also, they were the favorite “target” for the many BLM “five finger discount” crowd actions.
Hey Target, maybe time to adjust your business model? Stop catering to the mentally ill.
Woke arsed Target and their rainbow pandering will get no sympathy from me.
Target went woke and supported Leftist causes and now wonder why they’re getting robbed by Leftists.
The company deserves the destruction it is experiencing.
All these minority yutes finally get their supply chains fixed and are making money selling their goods at swap meets and yard sales, and the first thing Big Business wants to do is SHUT THEM DOWN.
Target declared war on civilization, then complains when their war bears fruit.
But we aren’t supposed to identify such groups, as that would be racist.
Karma paid back with interest
I’d pepper spray those punks.
Put up and enforce signs the read No Blacks Allowed and watch your revenues sore!!
I figure inner city stores will become pick up only. The stores will just be warehouses, you’ll submit your order, and then pick them up at a counter when you pay for them. It won’t stop robberies, but it will put a huge dent in shoplifting.
It might help if they arrested the thieves. ....and find them a huge penalty. If they don’t pay then off to jail.
(...cough...). Soar!!
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