"Dollar Tree said theft is such a problem it will start locking up items or stop selling them altogether"
"Dollar Tree said theft is such a problem it will start locking up items or stop selling them"
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 ...
perhaps the “ leave your card at the door before shopping” wouldnt be a bad idea.. but of course “THATS RACIST”.
I was told by a store associate that the pregnancy tests are often found used in the women’s bathrooms.
Maggots living here have taken that “Land of the Free (stuff)” too seriously. We never should have let them take stealing off the list of crimes. Yeah, it reduced the crime stats but it’s breaking the retailers.
if your hair is thinning.... you can probably buy a bag of weave at a vending machine in your local mall. Sadly. :)
Walmart and CVS are two major chains that no longer sell tobacco.
They will probably never admit it but you are probably correct—customer and employee theft (and employee safety) was probably a reason.
With insane tobacco taxes stealing cigarettes was just too tempting for the “entitled” among us.
ha ... I would ... but I don't want to be appropriating some bodys culture
It might seem insensitive.... or something.
When I was at my local gas station this morning to buy the Sunday paper I talked to the attendant. Upscale neighborhood. He said 10% of patrons steal. From candy to wine. 10%. It ain’t minorities or illegals. Nice theory, though.
Stores will close and you will find nothing for sale in the “Hood.”
As stealing is now perfectly OK, you will get so much of it, businesses will close up and flee.
Stealing is now “reparations.” If you are black, you have a “right” to steal.
So, Dollar Tree should raise prices in stores in Soros jurisdictions an additional 10% for Soros voters to subsidize the thievery they voted for and place a sign to that effect at the entry
The interesting question would be the trend—is stealing increasing among all groups?
I think we know the answer....when our “leaders” are crooks who are not punished the population follows their lead.
I’m going to guess pregnancy tests and laundry detergent.
In northwest Washington state yesterday early morning, a Ford F350 pickup smashed in the entire front end of a convenience store by ramming the entrance. Nothing was taken.
We have gone from theft to complete anarchy.
A razor blade desert?
Dollar Tree had miserable quarter, company management is chalking it up to a mix of factors:
How about the fact that that they are no longer “Dollar” Tree. Used to count on all items there being a dollar. I used to stop there as its next to the grocery store I normally use. After they increased prices I found they charged more for certain grocery items than the grocery store.
Also there is rarely anyone manning the register, you often have to go find someone to check you out at slow periods. And never more than two workers on a shift anymore and they are usually unloading trucks or stocking.
I was in college before I went back, and scared that she still worked there.
One example of many I’ve personally witnessed in the home grown urban community of Cincinnati. Mind you, this was eight years ago before things really got bad.
A lady fills up a 40 gallon plastic trash can on wheels that the store sold with various items to steal. An employee confronts the thief and is stabbed three times in the face with a screwdriver. The mother of four perpetrator was quickly caught and prosecuted. She received suspended sentences and probation for the felony assault and various other charges. Nary an illegal in sight.
Still not gonna stop the smash and grab black gangs who flash steal. Social media invitation and pandemic mask and those mutts are off to the races.
I stopped by Dillards to buy some cologne last Friday. I asked the attendant why the sample bottles are all empty. He said "teens" would come in and grab the bottles and bolt for the door. Same thing.
Surely the in-store theft (or the from-store theft, if you will) is a huge problem, but I’d be curious what the numbers are from warehouse theft and truckjackings, and how those last numbers compare and trend.
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