<\/div>\n<\/div>\n
\u201cThere\u2019s a handful of things that can drive shrink in our business and theft is certainly a key driver.<\/p>\n
We know we\u2019re not alone across retail in seeing a trend that I think has gotten increasingly worse over the last 12 to 18 months.<\/p>\n
\u201cSo we\u2019re taking the right actions in our stores to help curb that trend where we can, but that becomes an increasing headwind on our business and we know the business of other,\u201d Target CFO Michael Fiddelke said.<\/p>\n
Yahoo Finance spoke with the Target spokesperson, who said the problem is primarily due to \u201corganized retail crime.\u201d<\/p>\n
The rise in organized retail crime is not a coincidence. It has largely been incentivized by the criminal justice policies that progressive prosecutors have pursued in blue cities across the nation. These policies tend to be lax in nature in which criminals are given a slap on the wrist for their misdeeds.<\/p>\n
Target has blamed organized crime gangs for most of the store thefts. Durden noted that \u201cthefts are so bad at the Target in Minneapolis downtown that everyday toiletries are locked behind shatterproof glass cabinets.\u201d<\/p>\n
The level of theft has been so alarming that Target and other big box retailers have called on Congress to take action. The US Chamber of Commerce has labeled this spate of looting at retail stores as a \u201cnational crisis.\u201d<\/p>\n
Per figures from the most recent National Retail Federation report, goods that were stolen at retail stores swelled to $94.5 billion in 2021. For perspective, in 2020 that figure stood at $90.8 billion. In 2022, those numbers are expected to surpass $100 billion.<\/p>\n
Read More @ BigLeaguePolitics.com<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"by Jose Nino, Big League Politics: According to a\u00a0report\u00a0by Tyler Durden of ZeroHedge, big box department store chain Target revealed that it\u2019s combatting a significant organized retail crime wave throughout 2022. This rise in retail crime has apparently done a significant number on its profits this year. In response to these acts of theft, the […]<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[142794],"_links":{"self":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/326250"}],"collection":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/comments?post=326250"}],"version-history":[{"count":0,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/posts\/326250\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/media?parent=326250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/categories?post=326250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sgtreport.com\/wp-json\/wp\/v2\/tags?post=326250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}