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 ...
It’s not just minorities and illegals.
Wow.. a whole quarter.
Get the tar. I’ll find some old pillows.
A smart ass . Got it. Sarcasm here is bs. It’s 36 % inflation crap. Grow up
A smart ass . Got it. Sarcasm here is bs. It’s 36 % inflation crap. Grow up
Dimwits like you are why they get away with this crap
Sounds similar to Amazon Go stores.
Oh relax. Stay out of my inbox too.
Ok smart ass. I was polite and sent you a private message but YOU WANT IT PUBLIC
DO NOT EVER POST TO ME AGAIN. YOU ARE A MORON
Now you delete my messages.you picked the wrong day to screw with this old woman you unthinking cretin. Suck to death if wise asa know-it-all nwn like you!! You are the reason we fail as a nation.
DONE
Now you delete my messages.you picked the wrong day to screw with this old woman you unthinking cretin. Suck to death if wise asa know-it-all nwn like you!! You are the reason we fail as a nation.
DONE
Here’s one from Colorado. Lots more out there especially from Portland.
https://www.youtube.com/watch?v=NW-Vy7SJi7E
Ok. That’s one
I have no ability to delete anything you post here. Check with the moderators. I am not in control of anything here.
And I must respectfully decline your offer in my inbox. My wife is all I need. But hey, thanks for the offer.
You only asked for one. There are many more. Trust me. I found that one in less than 60 seconds.
I was at a Dollar Tree store yesterday in Compton, CA and witnessed a frail and sickly looking black guy filling up a jumbo tote bag with everything and anything he could fit into it. It was surreal. The poor cashier was the only person on duty and helpless to stop him. It would have been very easy for me or anybody else in the store to subdue and restrain him but we all were thinking why bother. He would probably be released without charges while we would be arrested and held without bail for assault and a hate crime.
So, I paid the $5 for my snacks and got on the train while shaking my head in sadness, disbelief and a deep sense of helplessness as I reflected on what our country has become.
Walmart up in Porter Ranch, Calif removed all of the sundry items like shampoo, pain pills, misc pharmacy drug store items etc that were locate next to the grocery store aisles. Where they went I do not know as I have not found them in the store.
Porter Ranch is in the hills above the 118 freeway overlooking the San Fernando valley. It is the richest area now over Beverly Hills. The CVS drug store a few hundred yards away next to the Ralphs grocery store is shoplifted regularly. 4 times in one day a few months ago.
“We are now taking a very defensive approach to shrink,”
A good offense is what is needed!!
Work to get the democrats out of office!!
“Dollar Tree said theft is such a problem it will start locking up items or stop selling them”!!
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