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I wish they would give numbers. What is the current amount of shrinkage in dollars and how does that compare vs historical. After Walgreens[0] confessed to over

I wish they would give numbers. What is the current amount of shrinkage in dollars and how does that compare vs historical. After Walgreens[0] confessed to over-stating the problem, I would like to see more data. Especially since Target has also seen large spending declines as it has been dealing with excess inventory and consumer spending changes (necessities vs luxuries). [0]: https://www.cnbc.com/2023/01/05/walgreens-may-have-overstated-theft-concerns.html https://www.cnbc.com/2023/01/05/walgreens-may-have-overstate...

mixdup 4y ago
For sure they are lumping in a bunch of closings together that are not necessarily related. The original link mentioned other closings Walmart announced in February and most of those are due to Walmart giving up on a specific format that they were testing. But, by lumping in some of these types of closings they can blame "criminals" for their own financial failing
- ed25519FUUU 4y ago
  You don’t need a multinational company to tell you shoplifting is rampant in Portland. You can just visit there.
  - fbdab103 4y ago
    Actually, you do? Anecdotes are insufficient to understand the real magnitude of issues. Is the rate of shrinkage at a Walmart in Portland different from a similarly sized/neighborhood in Austin? How does it compare vs historical trends? Is Target showing similar? Are these numbers more or less than following the 2008 crash?
  - thephyber 4y ago
    I wouldn’t take anyone’s word for it. There are too many actors with an agenda and a free political PR machine spewing hate about SF, Portland, Seattle, NYC, etc. Even Walgreens publicly admitted in Jan that they had made far too big a deal about shoplifting as the cause for their SF closings in 2022. I expect there is corporate ass-covering happening by painting bad news as caused by factors external to the company and the market.

mixdup 4y ago

For sure they are lumping in a bunch of closings together that are not necessarily related. The original link mentioned other closings Walmart announced in February and most of those are due to Walmart giving up on a specific format that they were testing. But, by lumping in some of these types of closings they can blame "criminals" for their own financial failing

ed25519FUUU 4y ago
You don’t need a multinational company to tell you shoplifting is rampant in Portland. You can just visit there.
- fbdab103 4y ago
  Actually, you do? Anecdotes are insufficient to understand the real magnitude of issues. Is the rate of shrinkage at a Walmart in Portland different from a similarly sized/neighborhood in Austin? How does it compare vs historical trends? Is Target showing similar? Are these numbers more or less than following the 2008 crash?
- thephyber 4y ago
  I wouldn’t take anyone’s word for it. There are too many actors with an agenda and a free political PR machine spewing hate about SF, Portland, Seattle, NYC, etc. Even Walgreens publicly admitted in Jan that they had made far too big a deal about shoplifting as the cause for their SF closings in 2022. I expect there is corporate ass-covering happening by painting bad news as caused by factors external to the company and the market.