Posted on 08/18/2015 11:23:25 AM PDT by Kartographer
Walmart's theft problem is getting worse.
Walmart US president Greg Foran said Tuesday that theft, which the company calls shrinkage, was one of three major factors behind the retailer's drop in profit in the most recent quarter.
Walmart's profit fell to $3.48 billion, or $1.08 a share, in the quarter ending July 31, from $4.09 billion, or $1.26 a share, a year earlier, the company reported Tuesday.
"Inventory shrinkage was meaningfully higher than planned for the quarter," Foran said in an earnings call.
Walmart probably loses about 1% of its US revenue — or roughly $3 billion every year — to stealing by customers and employees.
(Excerpt) Read more at finance.yahoo.com ...
I’ll bet 2 bill out of the 3 bill were employees.
I don’t know if it’s ‘theft’ or could it be they don’t want us to know that we aren’t buying there anymore and they don’t want to admit it????
I’d be willing to have my purse and shopping bags searched every time I leave a WalMart in order to deter thieves.
Dogs, fleas.
2-3 times a week, our local small-town Police Log has listings of people arrested for shoplifting from Wal-Mart. Apparently it happens a lot more than I ever thought. Some even brazen enough to just load up a cart and push it right out the door.
Reminds me of the old days in New Jersey, when being offered items that “fell off a truck” was common.
Walmart has plenty of other problems.
It used to be a go to first proposition, then to other stores if they didn’t carry it.
Not any longer.
Walmart has a good idea of what percentages are employee and non-employee theft. They have extensive camera systems interally and around their stores. They know what goes on, especially around loading docks and cashier stations.
Walmart is probably committed to “diversity.”
Close the self-checkout lanes and hire more cashiers.
I disagree. They can catch the majority of them, they choose not to try. We don’t need the TSA at our retail outlets.
I noticed they brought the door checkers back.
Don’t worry, it will drop some more when the Mini Wallmart on Murchison Road opens.
I wonder how much of this theft came after Walmart started accepting EBT cards.
“We?” I haven’t stopped buying at Walmart, and the local superstore is a full of customers as ever. Shopping at most other brick and mortar stores is just throwing money away.
The largest part of the problem is that they refuse to call theft by its real name.
Shrinkage?
Really?
Do they refer to armed robbery as “externally-initiated giving”?
Undocumented people, undocumented groceries and goods...
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