No. of Recommendations: 3
Target said Tuesday that it will close nine stores in major cities across the country, citing violence, theft and organized retail crime. Certain store locations in New York City, Seattle, San Francisco and Portland will close for good by Oct. 21.
I wonder if this 'shrinkage' problem is not more of a problem in cities, particularly some of the cities where police are apparently refusing to respond, and maybe not so much of a problem in the small towns that the dollar stores target? In the Q2 report, they do mention shrinkage, but it's just one thing among others: This gross profit rate decrease was primarily attributable to lower inventory markups and increased shrink, markdowns, and inventory damages, as well as a greater proportion of sales coming from the consumables category, which generally has a lower gross profit rate than other product categories.
dtb
