Posted on 08/27/2023 5:17:47 AM PDT by dennisw
Dollar Tree had miserable quarter, company management is chalking it up to a mix of factors: changing consumer demands on top of higher prices for fuel and electricity … and theft.
The company’s chief executive and chief financial officer homed in on that last one on a call with Wall Street analysts Thursday.
Dollar Tree CEO Richard Dreiling and CFO Jeffrey Davis blamed a surprisingly large drop in gross profit margin — tumbling to 29.8% last quarter from 32.7% a year earlier — on “shrink,” the industry term for inventory losses due to theft, damages and other causes.
Davis said the company has taken steps to fix the problem, but the shrink issue is getting worse — and “definitely advanced a little further than what we had anticipated.”
In response, Dreiling said Dollar Tree and Family Dollar stores, which the company also owns, will take more drastic measures in the coming months.
“We are now taking a very defensive approach to shrink,” Dreiling told analysts Thursday. “We have several new shrink formats that we’ll introduce in the back half of the year, and it goes everything from moving certain SKUs to behind the check stand. It has to do with some cases being locked up. And even to the point where we have some stores that can’t keep a certain SKU on the shelf just discontinuing the item. So we have a lot of things in the works.”
Dollar Tree, Dollar General and other discount stores have had longstanding theft issues, operating stores with just a handful of employees who have at times been victims of violent robberies and other crimes. Dollar Tree employees have complained about unsafe working conditions, and OSHA Regional Administrator Kurt Petermeyer in Atlanta in February criticized the company for a “continued disregard for human safety”
(Excerpt) Read more at msn.com ...
I think just about every problem like this can be traced back to massive illegal immigration.
I thought you shopped at Dollar stores because they were so cheap. That you did not have to steal the items. Like the cans of expired sardines and expired Vienna sausages and other expired foods. One step above the Church food bank.
“I thought you shopped at Dollar stores because they were so cheap. That you did not have to steal the items. Like the cans of expired sardines and expired Vienna sausages and other expired foods. One step above the Church food bank.”
It defies logic, doesn’t it. Unless.... you consider there might be some entities out there that might want to run dollar stores out of business...for “some” reason.
Remember, to the commie left... competition in business is evil. And stores that offer cheap or affordable goods are evil. Much harder to control the populace when they can get the same goods at a cheaper price elsewhere.
No, not near me......... to Los Angeles and San Francisco and Black run California cities
Why spend money when you know you can steal it with impunity?
My grocery store chain of choice has a hands off policy regarding shoplifting.....a very poor policy IMO.
all that does is embolden shoplifters.
Conversely, the Khol’s department store that shares the same parking lot has a very aggressive policy in regards to shoplifting.......not a Christmas goes by I don’t see someone in the back of a police car in front of that store......I bet they suffer very little impact from theft.
Normal people shop at dollar tree for things like cheap party favors for kids, inexpensive (temporary) holiday decorations, etc. It’s not all just crap food.
It does not surprise me that thieves are stealing from this chain. They steal from low end, high end, whatever. The employees aren’t allowed to stop anybody, cops don’t care, the DAs don’t care, and there aren’t enough employees to really watch over everything anyway. we live in interesting times.
I’ve yet to see any videos of whites stealing or robbing. If there are any videos I’d love to see them.
Of interest, apparently there were just a few different items being shoplifted
What were they?
Factors are 1) understaffing, as the story noted, 2) abysmal treatment of the part time hourly retail employees by managers with no skills, training, or respect for the employees, and 3) company policies that punish employees that protect corporate assets.
They will stop selling hair straighteners, pigs feet, hot sauce, Philly Blunts, Newports, Kangol hats, Fila sweatsuits, grape drink, etc.
Factor is Negro.
Note gasoline stations pre-charge your credit card at the pump before you get gasoline.
Just arm and train the clerks but keep them from prosecution for enforcing the law like the police.
“we live in interesting times.”
When I was just a young buck... 12-13 years old, we kids would palm a pack of gum or something and think we had pulled the heist of the century.
The rush of doing something “taboo” I suppose.
I still feel regret at that.
I can’t get my mind around how an adult can just walk in a take a part of someones life. There property represents hours... days ... weeks ... of there time , their life.
Sad , yes sad.... we have lost the moral underpinnings of our
society. I am afraid it’s down hill from here.
Could we have put the brakes on? I don’t know ... it seems like the nature of man comes out more and more ... we are not “evolving “ we are devolving.
gird your loins.... put on the whole armor ..... it’s about to get real
What you suggest...pre-swipe as you enter...will happen in a rapid way in major US cities over the next year or two. Same with grocery-bouncers hired to check your receipt at the front-door.
I watched a technology special...German style grocery that you’d swipe a card and it’d memorize your face as you walked around the store...recording what you picked up and put into a cart. At the end....you just approach a scanner to check your face and then tell you what was in your cart....deducting the amount from your card. Same idea would work here.
“I think just about every problem like this can be traced back to massive illegal immigration.”
In the neighborhood of ten years ago, so long before the massive illegal immigration we see due to the current Leftist regime in Washington, I was in the hair care section of my local, rural Walmart. There was an employee manning the area which is almost unheard of. Her job, it turns out, was to lock and unlock the black only hair care products. I asked her about her job, and she nodded at the cabinet saying, “if I wasn’t here everything you see there would be gone before noon.”
The theft problem is because the local governments won’t enforce property rights. I think that’s because if someone has property, they stole it from someone else and that someone else is, by virtue of not being Caucasian, downtrodden by The System, which exists to keep the Evil Caucasian patriarchy in power. (And, in their minds, anyone who isn’t black who eats fried chicken and watermelon are culturally appropriating authentic black culture.)
Virtually all of the civic breakdown is caused by, accelerated by, and advocated for by our government. These are people who probably swore an oath to uphold the law.
“stop selling hair straighteners, pigs feet, hot sauce,”
NOOOOO say it aint so ...
The hair things can go ... I’m a bit thin on the top but ...
no pigs feet and hot sauce?
It’s getting worse then I thought !
FIVE FINGER DISCOUNT will reduce profits if not eliminated.
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