Shrink and Theft Losses Near $1 Billion at Lowe’s — Here’s How Much They’re Costing Other Retailers
September 12, 2023
A CNBC analysis of several retailers reveals that inventory losses due to shrink and retail theft are generally only a small fraction of the retailers’ net sales. This is in stark contrast to other factors like excessive discounts and promotions, which exert more pressure on profit margins. While some companies, like Lowe’s, have disclosed significant shrink numbers reaching nearly $1 billion, the overall impact seems less dire than certain retailers and trade associations have suggested.
Recent News
NHTSA Investigates Tesla Autopilot Again After Recent Software Update
Tesla Autopilot is once again the subject of an NHTSA investigation.
Home Depot Holds Halfway to Halloween Sale: Skelly’s Back
It’s halfway to spooky season, and Home Depot is celebrating.
Kaiser Discloses Health Insurance Data Breach
Health insurance company Kaiser is notifying millions of its current and former members about a data breach. The breach occurred when Kaiser shared patients’ information with third-party advertisers like Google, Microsoft, and X (formerly Twitter).
Satirical Site The Onion Acquired by Global Tetrahedron
The satirical news website, The Onion, has been sold by G/O Media to a group of digital media veterans.