Inventory shrink driven by organized retail crime is expected to reduce Target’s profitability by an additional $500 million this year, the retailer’s CEO Brian Cornell said last week.
“The problem affects all of us, limiting product availability, creating a less convenient shopping experience, and putting our team and guests in harm’s way,” Mr. Cornell said during the discounter’s first-quarter analyst call. “The unfortunate fact is violent incidents are increasing at our stores and across the entire retail industry.”
