“What we’re seeing today requires the government, the community, the retailer, everyone, … including the consumer, to take action,” Johnston said.
“What we’re seeing today requires the government, the community, the retailer, everyone, … including the consumer, to take action,” Johnston said.
Target’s revenue last year was only $108 Billion, how are they going to survive these catastrophic losses of 0.37% of annual revenue!?
Comparing revenue to profit doesn’t really work, especially in retail. It’d be 12% of their $2.78 billion profit, if the $400 million number were true (400m / (2.78b + 400m)).
Target doesn’t bother separating out shoplifting (shrinkage) in their earnings reports though, so whatever the true amount, the company doesn’t actually think it matters.
Their financials did crater last year, driven by a huge spike in cost of goods sold. Which is the line item where shrinkage would be included, but also where their suppliers all increasing their own prices would go, something we know actually happened last year.