How Tractor Supply managed to shrink theft rates when they're surging almost everywhere else
Sep 7, 2023, 21:52 IST
- Retailers like Target, Dick's, and more say theft is taking a bigger bite out of earnings this year.
- Tractor Supply Co.'s CEO says retail crime is a major problem, but his company is bucking the trend.
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For Target, it's an additional $500 million this year. For Dick's Sporting Goods, it's one third of the decline in the company's merchandise profit margin last quarter.All told, inventory shrink cost retailers nearly $100 billion last year, per the National Retail Federation.Shrink is an accounting term that encompasses merchandise that has gone missing due to damage, error, and the largest piece of the puzzle: theft.