A range of retailers are once again attributing their lackluster profits to shrinkage.
However, some of these companies are now providing more detailed information on the extent to which shrinkage, including external or employee theft, damage, or vendor fraud, is affecting their bottom lines.
Meanwhile, certain retailers have scaled back their claims that organized theft is a major cause of losses, as skepticism grows regarding the impact of crime on their struggles.
During the second-quarter earnings reports in August and September, nearly two dozen retailers acknowledged that shrinkage continues to impact their profits. However, the details and explanations provided by each company varied significantly.
Many of them stated that shrinkage is at an all-time high and that the industry is struggling to control it. Nevertheless, it is challenging to compare these losses to previous years because most companies have never disclosed this information before.
2023-09-08 14:26:24
Source from www.cnbc.com