Unfortunately, now everything has changed. Highly organized gangs have developed extremely sophisticated plans for how to rapidly loot our major retailers, and the best ones can be in and out in just minutes. Those goods are then resold online or in the streets, and the amounts that we are talking about are absolutely staggering. In fact, as you will see below, theft is now costing retailers in this country about 100 billion dollars a year.
This week, Target made headlines all over the nation when it publicly admitted that theft will cost it 500 million more dollars than it did last year…
Target said Wednesday that organized retail crime will fuel $500 million more in stolen and lost merchandise this year compared with a year ago.
Target's inventory loss, called shrink, totaled about $763 million last fiscal year, based on calculations from the company's financial filings. With the anticipated increase, shrink this year would surpass $1 billion.
Let's do some math.
763 million from last year plus 500 million more this year equals 1.263 billion dollars.
Please keep in mind that this is just one chain.
As Target CEO Brian Cornell openly admitted earlier this week, organized retail crime has become a massive problem "across the entire retail industry"…
'The unfortunate fact is violent incidents are increasing at our stores and across the entire retail industry. And when products are stolen, simply put they are no longer available for guests who depend on them.