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One alarming reason Walmart's profit is down
Business Insider via Yahoo ^ | 8/18/15 | Hayley Peterson

Posted on 08/18/2015 11:23:25 AM PDT by Kartographer

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To: Snickering Hound
Close the self-checkout lanes and hire more cashiers.

My local Walmart had the self-checkout lanes for less than a year before they took them out.

Even though where I live has a pretty high median income it is also a high theft area for the local retailers.

41 posted on 08/18/2015 12:00:38 PM PDT by OldMissileer (Atlas, Titan, Minuteman, PK. Winners of the Cold War)
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To: Kartographer
RE :”Face it business wise the theft has to steal a goodly sum to make it worth while to prosecute. Lawyers and employee paid while standing around in court would eat up more profit. It is a lose/lose situation. “

I have always been unimpressed by Walmart’s employees.

To stop theft you need good ones and the ones I have come into contact with were pretty clueless and uninterested.

Add that the shoppers they lure tend to be on the lowest rung, definitely high % of shoplifters in that group.

A recent story :

One near me expanded to add a huge food section a couple of years ago and put a nearby grocery store out of business.

Months later a Asian grocery store took over the building and beats that Walmarts on food prices.

42 posted on 08/18/2015 12:17:37 PM PDT by sickoflibs (King Obama : 'The debate is over. The tme for talk is over. Just follow my commands you serfs""')
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To: cicero2k

...items that fell off a truck...

A man in a trench coat once approached me on a city street; I thought at first he was a flasher. Instead, he opened his coat and said, “Hey, wanna buy a nice brassiere?”
He had a whole bunch of brand new bras safety-pinned to the inside of his coat, with price tags still on them.
No, I did not purchase one. LOL


43 posted on 08/18/2015 12:17:53 PM PDT by mumblypeg (I've seen the future; brother it is murder. -L. Cohen)
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To: Snickering Hound

I don’t use those self-checkout lanes and have often wondered what real control they have, if any, on people just slipping many items into the bags without scanning them.

Looks like an invitation to theft.


44 posted on 08/18/2015 12:25:53 PM PDT by Will88
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To: ItsOurTimeNow

“Walmart probably loses about 1% of its US revenue — or roughly $3 billion every year — to stealing by customers and employees.”
The Commander in Chief has set the tone by which commerce operates.... “You did not build that” means the rest are entitled to your property. The trend begins there.


45 posted on 08/18/2015 12:27:08 PM PDT by griswold3 (Just another unlicensed nonconformist in am dangerous Liberal world.)
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To: Snickering Hound
Close the self-checkout lanes and hire more cashiers.

Never happen. They did the math and decided that it was cheaper to allow more stealing than to keep the cashiers on the payroll.

46 posted on 08/18/2015 12:30:54 PM PDT by Bubba Ho-Tep ("The rat always knows when he's in with weasels."--Tom Waits)
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To: Kartographer
Good afternoon.

Is there a mention of the increase in the starting wage?

If not, I will analyze their 10-k to see who is lying.

5.56mm

47 posted on 08/18/2015 12:35:46 PM PDT by M Kehoe
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To: Kartographer

A scam I’ve seen pulled at a Walmart involved people stealing a few items and getting them out the door, or past the checkout lines, then taking them to the return item desk for refunds. Saw someone try that with a chainsaw. Walmart didn’t require receipts for all returns at the time, but I think they changed that policy.


48 posted on 08/18/2015 12:36:15 PM PDT by Will88
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To: M Kehoe
It's a quarter, dagnabit.

10-Q

5.56mm

49 posted on 08/18/2015 12:37:47 PM PDT by M Kehoe
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To: cookcounty
I stopped shopping there and did not renew my Sam's Club membership after the Walmart CEO instructed the ARK governor to pull the religious liberty bill.

If Walmart holds my values in such contempt, they don't need my money either.

50 posted on 08/18/2015 12:38:04 PM PDT by Martin Tell (Victrix causa diis placuit sed victa Catoni.)
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To: Kartographer
Walmart's profit fell to $3.48 billion, or $1.08 a share, in the quarter... Walmart probably loses about 1% of its US revenue — or roughly $3 billion every year — to stealing by customers and employees.

So in other words, employees steal 1/4 as much as WalMart pays to those who invest in the company. Unreal.

("We steal from you, and they invest in you. We deserve more money, and they should pay more to shop here and should get less in return for their investment here.")

51 posted on 08/18/2015 12:39:19 PM PDT by Teacher317 (We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men)
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To: Kartographer
It's most likely not entirely theft or even a majority of it as theft. It's their very own messed up corporate wide inventory system showing items being on shelves that simply are not and were sold days, weeks, even months ago and do nbot get restocked.

If you notice an items missing day after day on the shelves you can ask a clerk to scan the bar code for the item on the shelf. The clerk 90% of the time will say the computer shows we have it in stock. You can ask them to please show you where and they say our computer shows we have X number. So and so is in charge of it and we'll tell him/her about it. And so it goes. The stocking clerks are not checking items against the shelves bar codes. This is true even with items there is no way anyone could shoplift or would have no monetary reason too.

If it isn't in stock and on the shelves for customers to buy it is LOST SALES and will reflect such from previous sales. Unfortunately many stores fully relying on computerized inventory see items as not selling when the item is actually not on shelves but shown as being there in stock in the system and the item gets discontinued due to lack of sales.

Walmart's On Time Inventory and discontinuing use of the stockroom is it's own worse enemy. They need to go back to keeping stock in the storeroom so items do not sell out. I'm not saying theft isn't a big problem but Walmart for years has ignored the obvious.

52 posted on 08/18/2015 12:39:29 PM PDT by cva66snipe ((Two Choices left for U.S. One Nation Under GOD or One Nation Under Judgment? Which one say ye?))
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To: ItsOurTimeNow
Some even brazen enough to just load up a cart and push it right out the door.

The great Derek Sanderson of the Boston Bruins once said, "I used to steal cartons of cigarettes from the local grocery store when I was a kid. I figured, if you have the b@ll$ to walk out with six cartons in your arms, people will think you must have bought them."

53 posted on 08/18/2015 12:43:57 PM PDT by Bloody Sam Roberts (Democracy is not freedom. Democracy is simply majoritarianism. It is incompatible with real freedom.)
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To: stephenjohnbanker

Most theft from retail stores has always been by employees.


54 posted on 08/18/2015 12:44:40 PM PDT by Squawk 8888 (I don't run; if you see me running, you should run too.)
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To: American Quilter

Not me. Any place that insists they confirm I am not stealing before I’m allowed to leave will get zero repeat business from me.

I am not a criminal and refuse to be treated like one.

Just for fun, when an employee asks to see your reciept as a condition of exiting the store, just say no. Apparently they need cause to justify that behavior. They cannot legally detain you.


55 posted on 08/18/2015 12:45:40 PM PDT by T-Bone Texan ('Zionists crept into my home and stole my shoe' - Headline)
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To: WayneS

Shrinkage is more than just theft- it is all stock losses and included damaged goods.


56 posted on 08/18/2015 12:46:48 PM PDT by Squawk 8888 (I don't run; if you see me running, you should run too.)
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To: Snickering Hound
Close the self-checkout lanes and hire more cashiers.

I refuse to use self checkout lanes at any store. I loathe them. A good cashier in an express line of 10 items or less can ring up sales a lot faster. I would have four express lines. Two lines Ten Items or less and Two lines 20 items or less. One of the Ten Items or less lanes would be Cash Only! Walmart looses a lot of sales not keeping sufficient Express lines open especially in heavy traffic hours. A person with one or two items isn't likely to wait on two shoppers with full carts in each of the open lines.

57 posted on 08/18/2015 12:47:56 PM PDT by cva66snipe ((Two Choices left for U.S. One Nation Under GOD or One Nation Under Judgment? Which one say ye?))
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To: WayneS

Technically, shrinkage refers to loss.

If it fell off the shelf and broke, that constitutes shrinkage.

When ghetto kids break toys and just put them back on the shelf, that is shrinkage too.


58 posted on 08/18/2015 12:50:26 PM PDT by T-Bone Texan ('Zionists crept into my home and stole my shoe' - Headline)
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To: cva66snipe
That's interesting. It seems to me that I spend lots of time searching for items at the grocery store and getting upset about it. I switch stores or products for that reason every now and then.

Do they all have Walmart’s problem?

59 posted on 08/18/2015 12:51:10 PM PDT by donna (Pray for Revival.)
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To: Kartographer

Our city’s police spend a LOT of time at Wal-Mart dealing with shoplifters.


60 posted on 08/18/2015 12:52:25 PM PDT by FreedomPoster (Islam delenda est)
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