By peru-retai
Safety measures are becoming more robust in stores. Locks on shelves, panic buttons placed along the aisles and even locks installed at their entrances have become commonplace.
In the United States, everyday products such as deodorant, toothpaste, and chocolate are being kept under lock and keys due to the increase in organized crime and petty theft, which is a serious threat to certain economic groups.
Walmart, Target, CVS, Walgreens and Home Depot, along with shoe retailers Foot Locker and Home Depot, have all expressed their concern over the recent wave of thefts. .
Lauren Hobart is the CEO at Dick’s Sporting Goods. She said, “Organized crime and theft are growing problems for many retailers.” Dick’s is a famous American sporting goods chain.
He said that the impact of thefts was “significant”, and it affected the results of both the second and third quarters, as well as the expectations for the remainder of the year.
Dick’s expects its profit per share to be between 11,33 and 12,13 dollars this year, compared with the previous range of between 12,90 and 13,80. The shrinkage is the difference between what the supplier ordered and what the inventory actually contains. It’s lower because of thefts and damage to the building.
Cornell cited a drop in profits for the second quarter that was “far above what can be sustained over time.”
Interest rates rose in 18 months in the United States from near zero to 5.50 percent, their highest in 22 years. This was done to curb inflation, which in June 2022 hit 9.1 percent, a record for four decades.
The National Retail Federation’s latest survey shows that retailers will lose $94.5 billion by 2021 (up from $90,8 billion in 2010). In 2010, organized crime increased by 26.5%
More and more shops are installing panic buttons in aisles and locks on shelves. Staff can activate these. Unprotected shelving is often thinly stocked or empty to reduce the risk of theft.
The measures taken aren’t always effective. In Queens, New York a man wearing a hood, and a sanitary face mask, used a blowtorch to melt the plexiglass in a Walgreens – right in front of employees and customers. According to media reports, he then filled up a bag.
In Queens specifically, residents signed a complaint about the lack of security in CVS stores. The company management, according to media reports, posted signs asking its employees not to interfere in cases of theft, or contact police for their own safety.
Some companies, like the Giant chain of supermarkets in Washington “where crime and violence is high and increasing,” plan to shut down stores.
Walgreens will close five of its stores in San Francisco by 2021 because they were stolen, while Walmart has closed four in Chicago in this year due to being unprofitable. The contraction rate has risen this year. It was something he had done last year. John Rainey, Walmart’s CFO in August said that the situation was uneven throughout the nation.
He added, “We do not want the growth to continue, as it may cause the prices to rise.” Online users report more “sudden thefts” where a group criminals enter a building, grab the things they can reach in a matter of minutes, and then run off.
Police reported that on August 12th, a similar incident occurred in Los Angeles at the Nordstrom chain. About 30 people wearing masks stole luxury goods worth over $300,000. They also sprayed bear spray onto the security guard. police.
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