Reported about 2 months ago
Target has made significant strides in reducing inventory shrink from retail theft, with its CFO Michael Fiddelke reporting a plateau in losses. The company's gross profit margin increased in the second quarter despite previous reports of a $700 million hit due to theft in 2022. Strategies include collaborating with local officials, installing locking cases for vulnerable merchandise, launching additional security measures, and closing nine underperforming stores due to crime concerns. Other retailers are also seeing improvements in shrink as they implement similar tactics.
Source: YAHOO