Former Home Depot CEO Bob Nardelli discusses the impact of surging crime and theft on retailers as well as American consumers across the country.
"Who's going to pay for all this? Somebody's got to pay. It's you and I and the average consumer are going to pay higher prices for goods to offset the cost of people stealing," Nardelli said.
Former Home Depot CEO Bob Nardelli reacts to a surge in retail crime and calls out the Biden administration for"fueling a lawless society" showed inflation rose 0.2% from the previous month, in line with estimates. Prices climbed 3.2% from the same time last year, up from 3% in June but slightly below the 3.3% forecast from Refinitiv economists. It marked the first acceleration in the headline figure in more than a year, underscoring the challenge in taming high inflation.last week, former Toys "R" Us CEO Gerald Storch outlined how various reports from retailers indicate a change in consumer behavior.
"Every report we hear from retailers out there is that consumers are stressed, they're reluctant to buy goods. They are spending money on services still, some of that pandemic revenge, but when you adjust for inflation, sales of physical products are actually down for 11 straight months," Storch said. retailers should expect further difficultly moving into the holiday shopping season.
"When that comes this fall, I believe it's going to be a very difficult holiday season, certainly challenging for most retailers," he said.
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