"What we're seeing today requires the government, the community, the retailer, everyone, ... including the consumer, to take action," Johnston said.
Sorry, but I have this weird problem with my vision where it's really difficult, if not impossible for me to see people stealing groceries.
It's weird. I can see it when people steal belongings from workers, but my vision turns elsewhere when people steal any kind of property from owners.
I saw a documentary about that terrible affliction once. I believe it was called They Live.
I work in retail and you could look me dead in my eyes while stuffing a laptop down your sweats and I wouldn't see shit
Cop budgets are through the roof and box stores are still openly calling for vigilantes. Fascism is so stupid.
It would be funny if the only ones affected by fascism were fascists.
Hitting themselves in the face with truncheons while taunting "stop hitting yourself!"
Especially if it's food or medicine.
They might say: "But what if they sell it for drugs!?" Shut up, scold. Nobody asked you.
I would say "doesn't matter the person that bought the food obviously needed it so it's still a net positive"
Last November, Target CFO Michael Fiddelke said the disappearance of merchandise caused a $400 million hit to the retailer's gross profit margin for the year.
And with your help, next year we can make that number even higher.
"If you can take a designer handbag and resell it for 30% off online ... the consumer has to be a little concerned about that," Johnston said.
OH NO!!!!!! Won’t somebody think of the designer handbag companies?????? How am I supposed to show I’m not poor if my handbag is 30% cheaper elsewhere????
take action
You're absolutely right
I'm gonna steal twice as much now
$400 million hit to the retailer's gross profit margin for the year
Target's revenue last year was only $108 Billion, how are they going to survive these catastrophic losses of 0.37% of annual revenue!?
Comparing revenue to profit doesn't really work, especially in retail. It'd be 12% of their $2.78 billion profit, if the $400 million number were true (400m / (2.78b + 400m)).
Target doesn't bother separating out shoplifting (shrinkage) in their earnings reports though, so whatever the true amount, the company doesn't actually think it matters.
Their financials did crater last year, driven by a huge spike in cost of goods sold. Which is the line item where shrinkage would be included, but also where their suppliers all increasing their own prices would go, something we know actually happened last year.
Note also that "shrinkage," where it is broken out separately, includes items breaking, spoiling, getting damaged, etc., and also includes employee theft as well as thefts by customers.
From looking at all of the figures I can find reporting on it, I believe the $2.78 billion figure you have here is off by a factor of 10. I imagine that the shareholders would be screaming bloody murder if a company with over $100 Billion in revenue only had $3 billion in profit.
I was going by their earnings report. It's entirely possible I missed a decimal place or something, but I just took another look at it and it seems right? (If I made a mistake it's a mistake I made twice, which I am fully capable of doing.)
over $100 Billion in revenue only had $3 billion in profit
For a company that's selling commodities you can get dozens of other places, and that maintains a large retail footprint, that doesn't sound too far off base.
I will fight and die in WWIII against Russia and China for Home Depot.
Picturing the last days of the united states where russia and china are going block by block finishing the resistance and finding some elderly people and kids chained to machine guns at a burger king.
https://www.epi.org/publication/employers-steal-billions-from-workers-paychecks-each-year/
https://www.cbsnews.com/news/owed-employers-face-little-accountability-for-wage-theft/
https://www.theguardian.com/us-news/2023/jun/15/wage-theft-us-workers-employees
I find it insufficient. Go forth and steal! The statute of limitations on shoplifting is until you get to your car! I wouldn't steal stuff from a cop store, but you're not a cop. You're not my dad! Later! Later, dawg!
Sticking my head out of my hole every year, and if I don't see any crime wave articles, that means 6 more weeks until election coverage gets serious.
Lmaoooo it’s all incredibly predictable which makes it even more dumb
