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A uniformed retail loss prevention employee for Target. Known as a Target Security Specialist . Retail loss prevention (also known as retail asset protection) is a set of practices employed by retail companies to preserve profit. [1] Loss prevention is mainly found within the retail sector but also can be found within other business environments.
In accounting, shrinkage or shrink occurs when a retailer has fewer items in stock than were expected by the inventory list. This can be caused by clerical error, or from goods being damaged, lost, or stolen between the point of manufacture (or purchase from a supplier) and the point of sale. [1] High shrinkage can adversely affect a retailer's ...
Shrink can be the result of theft, damage, or poor record keeping, among other factors. In its second quarter report, Target's 28.9% gross profit margin beat estimates, up from 27% a year ago.
Inventory shrink, including retail theft, is still weighing on Target . In 2023, Target faced multiple headwinds, as tightening financial conditions dragged down its top and bottom lines.
Dollar General has extra reason to protect profit margins after suffering from inventory shrink in 2023. It reported an operating profit decrease of 41.1% to $433.5 Million in its third quarter.
Inventory planning involves using forecasting techniques to estimate the inventory required to meet consumer demand. [ 1 ] [ 2 ] [ 3 ] The process uses data from customer demand patterns, market trends , supply patterns, and historical sales to generate a demand plan that predicts product needs over a specified period.
There may be some other disadvantages to scan- based trading, such as increased inventory shrinkage. [6] Also, employees have been known to take, steal consignor items for their own use, give them away, or even charge and keep [ citation needed ] ; doing so can be thought to hurt their employer vendor's bottom line less than stealing vendor ...
The retail industry has noted a rise in thefts, but Target is hopeful the trend is slowing after a huge jump at the start in 2023.
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