Retailers blaming shrinkage on the theft side to cover bad performing stores essentially. Shrinkage includes bad inventory, vendors and theft (employee/customer/vendor). Those numbers are at pre-pandemic levels and always hover around 1-3%.
> Target blamed theft and violence when it closed nine stores in four cities earlier this year, but a CNBC investigation found reported crime is worse at most of the locations it kept open near those stores.
> In some cases, Target chose to keep operating stores in busier areas that had better foot traffic or higher median incomes, even though the locations saw more theft and violence.
> CNBC’s findings cast doubt on Target’s explanation for the store closures and raise questions about whether the company’s announcement was designed to advance its legislative agenda and obscure poor financial performance.
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Retailers blaming shrinkage on the theft side to cover bad performing stores essentially. Shrinkage includes bad inventory, vendors and theft (employee/customer/vendor). Those numbers are at pre-pandemic levels and always hover around 1-3%.
> Target blamed theft and violence when it closed nine stores in four cities earlier this year, but a CNBC investigation found reported crime is worse at most of the locations it kept open near those stores.
> In some cases, Target chose to keep operating stores in busier areas that had better foot traffic or higher median incomes, even though the locations saw more theft and violence.
> CNBC’s findings cast doubt on Target’s explanation for the store closures and raise questions about whether the company’s announcement was designed to advance its legislative agenda and obscure poor financial performance.
Oh bull lol.