{"id":1766443,"date":"2022-12-07T13:03:29","date_gmt":"2022-12-07T18:03:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1766443"},"modified":"2022-12-07T13:03:34","modified_gmt":"2022-12-07T18:03:34","slug":"top-retailers-say-theft-has-reached-historic-highs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/top-retailers-say-theft-has-reached-historic-highs\/","title":{"rendered":"Top Retailers Say Theft Has Reached Historic Highs"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftop-retailers-say-theft-has-reached-historic-highs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1766443&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Walmart CEO Doug McMillon told CNBC Tuesday that theft is &#8220;higher than what it has historically been.&#8221; Walmart is just one of several top retailers reporting concerning levels of retail theft.<\/p>\n<p>The National Retail Federation in September reported the total losses from shrink\u2014a retailer term for theft and other inventory loss\u2014reached $94.5 billion in 2021. Retail crime incidents rose an average of 26.5 percent last year, Fox Business <a href=\"https:\/\/www.foxbusiness.com\/markets\/walmart-ceo-doug-mcmillon-says-theft-higher-than-what-has-historically-been\" target=\"_blank\" rel=\"noopener\">reports<\/a>. Retailers like Walmart, Target, and Rite Aid note particular problems in storefronts in urban locations, where liberal leaders push <a href=\"https:\/\/freebeacon.com\/columns\/crime-starters-usa\/\" target=\"_blank\" rel=\"noopener\">soft-on-crime policies<\/a>.<\/p>\n<p>McMillon told CNBC\u00a0if authorities being lax on prosecuting theft isn&#8217;t &#8220;corrected over time,&#8221; then &#8220;prices will be higher and\/or stores will close.&#8221;<\/p>\n<p>&#8220;I think local law enforcement being staffed and being a good partner is part of that equation, and that\u2019s normally how we approach it,&#8221; McMillon said.<\/p>\n<p>Rite Aid CEO Heyward Donigan noted in a September earnings call that her chain experienced &#8220;unexpected headwinds&#8221; from shrink, &#8220;particularly in our New York urban stores.&#8221; The company saw a $5 million increase in shrink this year, according to CFO Matt Schroeder.<\/p>\n<p>&#8220;This is an industry-wide problem that is often driven by criminal networks, and we are collaborating with multiple stakeholders to find industry-wide solutions,&#8221; Target\u2019s CFO\u00a0Michael Fiddelke told investors in mid-November. Target&#8217;s year-to-date shrink &#8220;has already reduced our gross margin by more than $400 million versus last year, and we expect to reduce our gross margin by more than $600 million for the full year.&#8221;<\/p>\n<p>Home Depot has &#8220;been doing more physical security,&#8221; Vice President of Asset Protection Scott Glenn told Fox Business, &#8220;and innovating some new tools and technologies to make it a little bit harder for the bad guys and girls to steal products.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Walmart CEO Doug McMillon told CNBC Tuesday that theft is &#8220;higher than what it has historically been.&#8221; Walmart is just one of several top retailers reporting concerning levels of retail theft.<br \/>\nThe post Top Retailers Say Theft Has Reached Historic Highs appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":1262,"featured_media":1766446,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1766443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1766443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1262"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1766443"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1766443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1766446"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1766443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1766443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1766443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}