Crime In The Retail World Makes For Not So Happy Holiday Shopping Season
View Source | November 28, 2022 3:00 am
- ORC incidents soared 26.5% on average in 2021, with 81.2% of retailers surveyed reporting “somewhat more” or “much more” ORC-associated aggression and violence year-over-year, according to the survey.
- During Target’s third-quarter earnings call in mid-November, CFO Michael Fiddelke said a factor affecting Target’s gross margin is “inventory shortage, or shrink, which is a growing problem facing all retailers.”
- “At Target, year to date, incremental shortage has already reduced our gross margin by more than $400 million versus last year, and we expect to reduce our gross margin by more than $600 for the full year,” he said. “This is an industry-wide problem that is often driven by criminal networks, and we are collaborating with multiple stakeholders to find industry-wide solutions.”
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