Theft and organized retail crime are "a worsening trend," according to Target CEO Brian Cornell.
Speaking during a conference call to discuss the company’s fiscal first-quarter results Wednesday, Cornell described theft and organized retail crime as “a worsening trend.”
Speaking during a conference call to discuss the company’s fiscal first-quarter results Wednesday, Cornell described theft and organized retail crime as “a worsening trend.”In a statement that accompanied Target’s results, the CEO said that inventory shrink will reduce the company’s profitability by more than $500 million compared with last year.
During the conference call, Cornell said that Target is working with the National Retail Federation, the Retail Industry Leaders Association and other partners across the country on the issue, and is advocating for public policy changes to tackle the problem. “The unfortunate fact is that violent incidents are increasing at our stores and across the entire retail industry,” Cornell said during the conference call.
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