Halls of Shrewd'm / US Policy❤
No. of Recommendations: 0
'Dick's Sporting Goods reported a profit drop and cut its earnings outlook for the year after seeing an uptick in retail theft and slow sales in its outdoor category.
It's the first reference the athletic goods retailer has made to shrink in a press release in nearly 20 years.
In a rare miss, Dick's also fell short of Wall Street's estimates on both the top and bottom lines.'
No. of Recommendations: 0
Up 209% over the past 5 years though! Funnily enough I've just been looking round one for the first time.
No. of Recommendations: 4
Dollar stores reporting, elevated shrink again. It's embarrassing to be an American in so many ways. Sad.
No. of Recommendations: 1
Dollar stores reporting, elevated shrink again. It's embarrassing to be an American in so many ways. Sad.
The could shrink the shrinkage rate by closing 3%-5% of their stores. It would just have to be the right 5%.
No. of Recommendations: 3
Unfortunately, that doesn't work. Upscale retailers in the best neighborhoods are victims. Prosecuting criminals might be an effective start.
No. of Recommendations: 0
No. of Recommendations: 0
No. of Recommendations: 1
"Dollar Tree adding locked cases, removing items from stores amid rising theft costs"
Don't know why more stores don't do what Costco does. Put (an) employee(s) at the exit door and have customers show their receipt and check to see if it matches the items going out the door in your cart. Costco does it and they have very low shrink. Would certainly seem to more than pay for the cost of the employee and deter theft.
We have an "Executive" membership at Costco. So I pay $120/yr for the privilege of having to wait in (a sometimes very long) line on my way out of Costco to have a person check to see if I haven't stolen anything.
Of course as an Executive" member, I also get 2% back on my total yearly purchases in the form of a check at the end of the year, making the indignity of the experience more palatable.
No. of Recommendations: 3
Don't know why more stores don't do what Costco does. Put (an) employee(s) at the exit door and have customers show their receipt and check to see if it matches the items going out the door in your cart.
Costco has a much higher average ticket, and much average cost per line item.
So for a dollar store to check things at the exit would eat a MUCH much higher proportion of sales to have someone manually check them all.
The shrink presumably is still far below the level that would make that worthwhile.
Having very low staff costs is one of the prerequisites of the economics of a dollar store.
Originally that extended to not bothering to mark things with prices, nor even scan them at checkout--at a true one-price store, the goods merely had to be counted.
Later on they because some of the most sophisticated retailers out there, with big data centres running Retek systems, because the movement analysis data were so valuable, so scanning was needed.
Jim
No. of Recommendations: 0
Technology will be the likely solution. Cameras with automatic detection should be able to catch shoplifting.
No. of Recommendations: 5
Technology will be the likely solution. Cameras with automatic detection should be able to catch shoplifting.
Which won't do any good if the DAs decline to prosecute.
No. of Recommendations: 2
It's a bigger problem than catching someone. We have a lot of smash and steal here in the LA, Orange County area. The police claim it's the same people they catch all the time. There's no bail so they leave after being booked and do the same thing again. I'm guessing after a while they go back to Venezuela-richer.
