- Costco CFO Richard Galanti said Thursday the company has been “fortunate” regarding theft.
- Galanti at one point said during Thursday afternoon’s earnings call that Costco’s shrink “is intact,” saying the company hasn’t “seen any major changes in shrinkage.” He noted it was a question the company had received a “couple times of late because of some of the companies out there that reported much higher shrink.”
- In the retail industry, the word “shrink” refers to theft and other inventory loss.