Retail

California Takes Action: Allocating $267M in Aggressive Measures Against ‘Brazen’ Smash-and-Grab Store Thefts

California is stepping up its efforts to combat smash-and-grab robberies happening throughout the state, with a budget allocation of $267 million. This funding will be used to support local law enforcement agencies in increasing patrols, purchasing surveillance equipment, and conducting various activities to tackle this issue. The announcement was made by officials from the California …

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Five Key Questions Investors Will Have About the Instacart IPO

Image: Dado Ruvic (Reuters) Instacart, the popular grocery delivery service, is set to go public next week, providing an exit opportunity for its venture capital investors. With its high-margin revenue streams from fees, grocery enterprise software, and advertising, it’s expected that investors will be eager to see the stock (under the ticker symbol CART) perform …

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Walmart Atlanta Collaborates with Police to Enhance Safety with Dedicated Workspace

An Arson-Stricken Walmart in Atlanta Opens Police Workspace Inside Store to Tackle Shoplifting Epidemic In an effort to combat the rising shoplifting epidemic that has plagued big box chains, grocery stores, pharmacies, and other retailers, a Walmart in Atlanta that was previously set on fire by suspected arsonists is taking drastic measures. The Walmart grocery …

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The likelihood of it not working out for you is high

Amazon CEO Andy Jassy has delivered a firm warning to employees who are resistant to the company’s return-to-office mandate. Speaking during a recent meeting, Jassy expressed his frustration over employees not taking the mandate seriously. Although he declined to share specific data justifying the decision, Jassy stood by his judgment to require employees to return …

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Our Bottom Lines Are Being Destroyed by Theft

Dollar Tree’s declining profits have been partly attributed to theft, according to CEO Richard Dreiling and CFO Jeffrey Davis in a recent statement to Wall Street analysts. The company’s gross profit margin decreased from 32.7% to 29.8% in the last quarter, with much of the decline being attributed to “shrinkage,” which includes lost, stolen, or …

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Walmart surpasses profit expectations due to high grocery demand

Walmart Inc, the world’s largest retailer, reported better-than-expected second-quarter sales and profits, leading to an increase in its full-year forecasts. The company attributed its success to strong demand for its affordable groceries and health and wellness products. Despite a 12.3% increase in Walmart’s stock this year, shares were slightly down in morning trading. Art Hogan, …

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CEO reports a substantial increase in violent thefts at Target this year

During Target’s second-quarter earnings call, CEO Brian Cornell expressed concern over the increasing violence and danger faced by staffers due to thefts at the retail giant. He revealed that shoplifting incidents involving “violence or threats of violence” had surged by 120% in the first five months of the year. Cornell emphasized that Target’s team continues …

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Canadian Regulator Investigates Ralph Lauren for Suspected Use of Forced Uyghur Labor

The Canadian Ombudsperson for Responsible Enterprise, Sheri Meyerhoffer, has launched an investigation into Ralph Lauren, a fashion company, regarding the alleged use of forced labor in its supply chains. At the same time, Meyerhoffer has placed a Toronto-based mining company, GobiMin Inc., on notice regarding its policies to prevent forced labor. Meyerhoffer expressed concern about …

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New Law Proposed by NY Legislator Michael Fitzpatrick to Protect Workers from Retaliation when Stopping Shoplifters

Retail workers in New York may soon find solace in proposed legislation that aims to protect them from losing their jobs or facing punishment for attempting to stop shoplifters. Long Island state lawmaker, Assemblyman Michael Fitzpatrick (R-Smithtown), has introduced a bill that would safeguard employees from retaliation if they confront or try to confront thieves …

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