Posted on 09/02/2023 2:24:22 PM PDT by karpov
Dollar General , Nordstrom , and Dick’s Sporting Goods all warned about the rising impact retail theft is having on their bottom lines-and they aren’t alone.
More than a dozen retailers said inventory shrink, the industry term that encompasses merchandise theft and damage, was a problem this past quarter. That list includes major players across the sector, from big-box and home-improvement retailers to department stores and other specialty outlets.
“The shrink environment has continued to worsen,” said Kelly Dilts, Dollar General’s (ticker: DG) chief financial officer, on a call with investors Thursday.
Barron’s combed through 17 earnings conference-call transcripts in a bid to distill what the industry is saying about retail theft. Here is what we found.
The Rise in Theft Caught Retailers Off Guard
The industry has been warning of a surge in retail theft for a few quarters now. While shoplifting is nothing new, organized crime groups have led the recent surge, experts say.
This quarter, shrink increased at a faster clip than expected.
“Shrink was the thing that surprised us in the quarter, and that’s really the driver when we think about the operating margin adjustment for the year,” said Scott Settersten, Ulta Beauty (ticker: ULTA) chief financial officer. Ulta beat expectations and raised its financial forecasts for the fiscal year on Thursday.
The Dick’s (DKS) management team also said high shrink levels were the biggest surprise this quarter, adding the extent of the problem became apparent when the company conducted its annual physical inventory count. Dick’s plans to count inventory more frequently.
Violent Incidents Are Increasing
A viral video of a roughly 30-person daytime snatch-and-grab incident at a Nordstrom (JWN) store in Topanga, Calif., exemplified to many how theft is becoming a safety challenge, for both employees and customers.
(Excerpt) Read more at barrons.com ...
Prosecuting any type of crime has a "disparate impact" on blacks because they commit crimes at higher rates. Therefore enforcing laws is racist. That's the "logic" of progressives in the Democratic party.
I almost feel sorry for someone stealing from Dollar General. Almost...
I’m really at a loss at who is stealing from dollar stores.
I mean, I get it, people steal. Always have always will. However are you stealing $1 body wash? Spatulas? Laundry detergent?
I mean I know this is Joe Biden’s America but even walking out with $20 worth of merchandise from a dollar store would be tough to fit in your pants. Likewise I would have to think people would be having to shoplift with grocery carts for it to crush your margins.
I don’t care if its adispzrate impact on any demographic.
This is how they make only certain people punishable under the laws that all of us live under.
Start shooting them, and this problem will go away overnight.
When a mob swarms into a store and carries out thousands of dollars worth of merchandise, that's not shoplifting, it's looting.
Broken windows. Rudy Giuliani showed us how to fix this in NYC back in the ‘90s.
Situation desired, planned and implemented by democrats, who are solely responsible for the outcome.
They’re looters, just shoot um
Wouldn’t take more than a few, the rest will get the message
Dollar General isn’t a dollar store. They’re basically a much smaller version of Walmart. I use the one near me in a pinch for pet food, shampoo, etc. Nice enough place.
RE: would be tough to fit in your pants.
The troubled young woman on last night’s Blue Bloods was stuffing small grocery items into her bra.
Shoplifter could enter the store as an “A” cup and leave as a rival to Kim Kardashian.
There was an article about cutbacks in government budgets resulting in low income people getting less. “The ones who went into the dollar store for their week’s groceries who used to have $21 may now have $15.”
Lock em Up and make them pay back through doing some hard work in their community~
Work is too hard for some of these thieves,they just want free stuff!
Exactly, they need signs saying you loot, we shoot!
I’d say it’s time to simply ban the pigmentally challenged from even entering stores. Everyone knows what they are there for.
white men will make up for the excess cost to replace inventory. one way or another. And don’t expect a ‘thank you’.
I did go back. When I was in college. And scared that woman was still there.
Maybe Nordstroms should hire her.
Isn’t dollar general owned by China? And didn’t dick’s sporting goods go woke on the second amendment?
hard to feel sorry for victims of their own making.
Shoplifting is a symptom of the problem.
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