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Target’s decision to close nine of its stores in major cities, citing persistent large-scale theft at those locations, is the latest signal that retailers may be struggling in their battle to ...
Crime is a $100 billion annual problem for retailers, with companies like Walmart warning it could lead to store closures if nothing is done.
The costs of shoplifting are adding up at Walmart. CEO Doug McMillon said that an uptick in theft is becoming such an issue at locations across the U.S. that it could lead to store closures and ...
Leo Pichardo, a store associate at Gristedes supermarket, retrieves a container of Tide laundry soap from a cabinet that has been locked due to retail theft on Tuesday Jan. 31, 2023, at the store ...
The recently announced store closures related to safety, retail theft, and unsustainable business performance represent less than 0.5% of our U.S. footprint, with 1,956 stores currently operating ...
The decision to close stores came after the company reported that inventory shrinkage — mostly the theft of merchandise — would cut profits by $500 million this year. In 2022, profits took a ...
Retail theft losses ballooned to $112.1 billion in 2022, up 19% from $93.9 billion the year before, according to the 2023 National Retail Security Survey, released in September 2023 by the Loss ...
May 14, 2023 at 10:30 AM. jetcityimage / Getty Images. Retail giant Walmart will close 10 U.S.-based locations this year due to poor financial performance, despite the company’s overall 7.3% ...