CEOs say shrink is easing, but experts warn retail theft isn't: 'Two different conversations' [FOX Business Network]
Walmart Inc. (WMT)
Last walmart inc. earnings: 2/18 06:00 am
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Source: FOX Business Network
Despite enhanced safety measures, retail theft remains a significant challenge for business, potentially costing the industry more than $140 billion in 2025, according to recent estimates. By 2026, researchers at Capital One projected losses could surpass $150 billion. The bank already estimated that retailers lost $121.6 billion to retail theft last year. That's up from the $112.1 billion loss in gross revenue and $84.9 billion hit from fraudulent sales returns they experienced in 2022, according to Capital One's most recent data published at the end of October. David Johnston, National Retail Federation (NRF) vice president of asset protection and retail operations, said there has been a misconception that retail theft has gone down as executives have mentioned decreased shrink in recent earnings calls. "Shrink" is an industry term referring to inventory loss due to employee theft, shoplifting, administrative errors or vendor fraud. Notably, Target CFO Michael Fiddelke told
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WMT
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- 11/19/24 - Beat
WMT
Sec Filings
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- 12/26/24 - Form 4
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