$Walmart (WMT.US)$ considering possible store closures and ...
$Walmart (WMT.US)$ considering possible store closures and price hikes as it grapples with what the company says is an uptick in shoplifting.
CEO: “If that’s not corrected over time, prices will be higher, and/or stores will close,”
$Target (TGT.US)$ CFO: Shoplifting jumped about +50% y/y, translating to more than $400M in losses during this fiscal year alone.
National Retail Federation found that in 2021, organized crime went up by +26.5% y/y.
In LA this week, police arrested 18 people who they say went on a shoplifting spree at stores around Los Angeles County. They allegedly swiped around 23,000 worth of clothing from several stores.
$Walmart (WMT.US)$ $Target (TGT.US)$ $Procter & Gamble (PG.US)$
CEO: “If that’s not corrected over time, prices will be higher, and/or stores will close,”
$Target (TGT.US)$ CFO: Shoplifting jumped about +50% y/y, translating to more than $400M in losses during this fiscal year alone.
National Retail Federation found that in 2021, organized crime went up by +26.5% y/y.
In LA this week, police arrested 18 people who they say went on a shoplifting spree at stores around Los Angeles County. They allegedly swiped around 23,000 worth of clothing from several stores.
$Walmart (WMT.US)$ $Target (TGT.US)$ $Procter & Gamble (PG.US)$
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