Corporations Plan For EVEN MORE LOSSES In 2023 Thanks To Out-Of-Control Organized Crime: ‘The Country Has A Retail Theft Problem’
If you’ve been on Twitter anytime in the past few years, you will quickly realize organized retail crime has gotten out of control.
The left, in many cases, will argue that people are shoplifting because they are just hungry and in dire need of access to food. But reality paints a much grimmer picture; showcasing criminals operating full scale operations to loot everything from electronics to makeup to merchandise. Most likely for black market resale.
How’s that for “Build Back Better,” America?
Big retailers understand what’s really going on. They even admit it’s a real problem within the industry. Let alone a hot-button issue. But instead of calling out this blatant decay of Western civilization, they’re, instead, going to just plan for more losses.
Which ultimately means passing those losses on to consumers through higher priced items one way or another.
Just search “shoplifter at Target” – or any other big retailer – for an ongoing feed of thieves simply getting away with theft.
Shoplifter walks off with two Apple iPads at Allen Park Target store https://t.co/gdodffSpl4 pic.twitter.com/qXICrG76J1
— The News-Herald (@NewsHeraldMI) May 12, 2023
— On Guard Security (@OnGuardSecurit1) May 9, 2023
It’s everywhere. We all know it because we see it happening again and again and again. But the left wants us to all just turn a blind eye because of tolerance and inclusion (or something). Typical.
For example, Target announced on Wednesday it expects to lose an additional $500 million in 2023 compared to 2022.
CEO Brian Cornell called out the challenge on the company’s fiscal first-quarter earnings call, saying the retailer and others are grappling with rising theft on top of slower sales and more price-sensitive shoppers. He described retail theft as “a worsening trend that emerged last year,” and said violent incidents have increased at Target’s stores.
“The problem affects all of us, limiting product availability, creating a less convenient shopping experience, and putting our team and guests in harm’s way,” he said on the call.
Cornell acknowledged that organized retail crime is a “hot-button issue” in the industry. So why doesn’t he call out any failed left wing policies that have made these crimes possible and desirable? Where are the cries for law and order again?
In America, for-profit companies like Target, Walmart, Best Buy, Walgreens and CVS should not be anticipating losses to this magnitude.
Target specifically reported $763 million in losses last year. Meaning a $500 million jump would put the company above $1.2 BILLION; a 65% increase.
Some retailers have moved out of certain areas, but the problem goes much further than the confines of places like San Francisco. It’s plaguing the nation as a whole. And law-abiding consumers will pay the biggest price. Especially amidst growing inflation.
“The country has a retail theft problem,” Home Depot CFO Richard McPhail said on a call with CNBC on Tuesday. “We’re confident in our ability to mitigate and blunt that pressure, but that pressure certainly exists out there.
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