Target CFO: 'Organized retail crime' contributed
to hundreds of millions in lost profits
in 2022
Posted By: NorthernDog, 2/28/2023 11:01:16 PM
With all due respect to Walgreens CFO James Kehoe, inventory shrinkage mostly at the hands of organized retail crime is still worth crying over if you are a retailer. Take Target (TGT), for example. "It [inventory shrinkage] was certainly a headwind [last year]," Target CFO Michael Fiddelke told Yahoo Finance on Tuesday (video above). "We know we're not alone in seeing elevated levels of shrink and organized retail crime driving some of that theft." Fiddelke said the profit impact amounted to "hundreds of millions of dollars of headwind." The issue is likely to challenge Target's bottom line in 2023, he
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The Delaware Supreme Court lowered the passing score on the state's bar exam amid other changes reportedly intended to increase racial diversity among the state's lawyers. The 200-question multiple-choice exam will be offered twice instead of once a year beginning in 2024 – and its passing score will be lowered from 145 to 143, according to local outlet WHYY. The number of essays on the exam will be decreased from eight to four, and the number of essay topics will be reduced from 14 to 10. The clerkship requirement is also being lowered from 21 weeks to 12 weeks, and the
Target CFO: 'Organized retail crime' contributed
to hundreds of millions in lost profits
in 2022 16 replies
to hundreds of millions in lost profits
in 2022 16 replies
With all due respect to Walgreens CFO James Kehoe, inventory shrinkage mostly at the hands of organized retail crime is still worth crying over if you are a retailer. Take Target (TGT), for example. "It [inventory shrinkage] was certainly a headwind [last year]," Target CFO Michael Fiddelke told Yahoo Finance on Tuesday (video above). "We know we're not alone in seeing elevated levels of shrink and organized retail crime driving some of that theft." Fiddelke said the profit impact amounted to "hundreds of millions of dollars of headwind." The issue is likely to challenge Target's bottom line in 2023, he
With the clock winding down on Chicago’s municipal election, the field of nine mayoral candidates fanned out across the city Sunday to deliver some of their final pitches to win over undecided voters and to push those who have made up their minds to follow through with a ballot. (Snip) Lightfoot visited two churches before speaking to dozens of supporters at Q’s Lounge in the Ashburn neighborhood, where the mayor shimmied to a live soul band, stopped for dozens of photos with supporters — and warned them against falling for “false prophets” on the campaign trail. “They’re gonna tell you
Los Angeles Mayor Karen Bass called to remove "obstacles" for new police recruits and pledged to root out officers with ties to "right-wing domestic extremist organizations." Bass is looking to remove "obstacles" for police recruits who fail to initially qualify for training as a means of further diversifying the LAPD, according to a summary of her public safety goals obtained by Fox News Digital – but police union leaders are questioning the move. (Snip) "We think that particular provision or that goal or that idea is dangerous," Tom Saggau, Los Angeles Police Protective League (LAPPL) spokesperson, told Fox News Digital.
A measure the Federal Reserve watches closely to gauge inflation rose more than expected in January, indicating the central bank has more work to do to bring down prices. The personal consumption expenditures price index excluding food and energy increased 0.6% for the month, and was up 4.7% from a year ago, the Commerce Department reported Friday. Wall Street had been expecting respective readings of 0.5% and 4.4%. The core PCE gains were 0.4% and 4.6% in December. Including the volatile food and energy components, headline inflation increased 0.6% and 5.4% respectively, compared to 0.2% and 5.3% in December.
Illinois Jeep plant idling Tuesday will
cost 1,200 jobs. Some an auto town will
become a ghost town 12 replies
cost 1,200 jobs. Some an auto town will
become a ghost town 12 replies
BELVIDERE, Illinois — When the whistle blows at the Belvidere Assembly Plant on Tuesday, it may signal the end of an era. For nearly six decades, the massive auto plant has been the economic engine of the small river city near Rockford, churning out everything from the Plymouth Fury and the Chrysler New Yorker to the Dodge Dart. (Snip) Sources said Belvidere was lined up to transition to an electric vehicle plant, specifically the new STLA large EV platform for the next generation Charger and Challenger. Instead, Stellantis announced in June the vehicles will be built in Windsor, Ontario, dashing the
PORTLAND, Ore. — Winter storms sowed more chaos across the U.S. on Thursday, shutting down much of Portland with almost a foot of snow and paralyzing travel from parts of the Pacific Coast all the way to the northern Plains. The nearly 11 inches that fell in Portland amounted to the second snowiest day in the city's history. It took drivers by surprise, stalling traffic during the Wednesday evening rush hour and trapping motorists on freeways for hours. Some spent the night in their vehicles or abandoned them altogether as crews struggled to clear roads. Other commuters got off spun-out buses
The Ohio Department of Natural Resources (ODNR) has upped its estimate for the number of animals killed by the derailment of train cars carrying hazardous chemicals in East Palestine, Ohio, to nearly 44,000. The department estimates around 38,222 minnows were killed by the derailment within a 5-mile span, plus around 5,500 other species, including other small fish, amphibians, crayfish and macroinvertebrates, ODNR Director Mary Merks said in a statement. The original estimate was approximately 3,500 dead aquatic species, based on observations from Feb. 6-7, shortly after the Feb. 3 derailment. ODNR’s team responded to the waterways the morning after the
A total ban on animal products could one day be on the cards for Cambridge University's food services following an Extinction Rebellion offshoot campaign. Cafes and canteens at Cambridge University are being pushed towards a '100 per cent plant-based' menu as student union votes were cast to 'initiate talks' for more sustainable options. Yesterday's vote came after lobbying from Cambridge's Plant Based Universities campaign, which is supported by Animal Rebellion, an offshoot of activist group Extinction Rebellion. Its motion - which calls for change in response to the 'climate and biodiversity crises' - was backed by 72 per cent of non-abstaining student
Twitter users piled on President Biden Tuesday after he boasted growing up in a Polish community while visiting the country. Biden met with Polish President Andrzej Duda regarding the ongoing war between Russia and Ukraine entering its second year. While speaking to the media, the president recalled his own connections to Poland, saying that his childhood home was a Polish community. "I was, as a young man, I was born in a coal town of Scranton, Pennsylvania, northeastern Pennsylvania, in an Irish Catholic neighborhood. Then when coal died, we moved down to Delaware, to a town called Claymont, Delaware, which
Ukraine's insistence on reasserting control over the annexed Crimean Peninsula is controversial for United States citizens, exclusive polling for Newsweek has revealed. Throughout the past year, Ukrainian President Volodymyr Zelensky has repeatedly committed to "liberating" Crimea from Russian control. The peninsula was illegally annexed by Moscow back in 2014. "Crimea is our land, our territory," Zelensky said in January. "It is our sea and our mountains. Give us your weapons—we will return what is ours." His words coincided with reports that the Biden administration was warming up to the idea of supporting Kyiv in its goal of retaking Crimea.
LOWER EAST SIDE, Manhattan — The heartbroken mother of a 15-year-old boy killed while subway surfing on a train crossing the Williamsburg Bridge remembered her son as a “good kid,” as she urged fellow parents to be aware of the dangerous and potentially deadly trend. Zackery Nazario “was a very nice kid. Old soul, very mature. Good kid, good kid,” grieving mom Norma Nazario told PIX11 News. The teen boy was killed Monday evening while riding atop a Manhattan-bound J train headed over the Williamsburg Bridge, according to authorities. Nazario hit his head on a metal beam as the train
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Twitter users recoiled after President Biden gave intimate details of his treatment in a medical facility Tuesday.
Biden was speaking about healthcare policy in Virginia Beach, Virginia, when he told a story about a nurse he said was named Pearl Nelson.
"She'd come in and do things I don't think you learn in nursing school," he said.
She'd whisper in my ear, I couldn't understand, but she'd whisper, and she'd lean down and actually breathe on me to make sure there was a human connection," Biden continued.
The Treachery of VP Mike Pence Explained
36 replies
Finally, President Donald Trump chose to lob a verbal grenade in the general direction of his old VP Mike Pence last Sunday night — regarding Pence’s ability to formally contest the results of the stolen 2020 election. This was, for many Trump supporters, long overdue. Here is Trump’s statement on the matter: (snip)The reason that Mike Pence did not exercise the power to lawfully contest the election is because Mike Pence was never a Trump loyalist. He’s a GOP establishment loyalist. There were plenty of problems inside the Trump Administration, and Vice President Mike Pence was at the center of many of those problems. In fact,
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“As such, we call upon Senator Fetterman to appear on camera
The Delaware Supreme Court lowered the passing score on the state's bar exam amid other changes reportedly intended to increase racial diversity among the state's lawyers. The 200-question multiple-choice exam will be offered twice instead of once a year beginning in 2024 – and its passing score will be lowered from 145 to 143, according to local outlet WHYY. The number of essays on the exam will be decreased from eight to four, and the number of essay topics will be reduced from 14 to 10. The clerkship requirement is also being lowered from 21 weeks to 12 weeks, and the
As RedState reported on Tuesday, Chicago Mayor Lori Lightfoot lost her reelection, and not by a little. According to the polls, she was something of an afterthought, falling well behind Paul Vallas and runner-up Brandon Johnson who got 33.77 and 20.29 percent of the vote respectively.
Lightfoot limped into third with 17 percent of the vote.
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“I’m a black woman in America. Of course,”
A proposed Oregon bill would provide the deep blue state’s homeless population $1,000 per month that recipients could use at their own discretion.
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People who spend more than 50 percent of their monthly household income on rent, and those who earn 60% or less of the area median income would also be eligible for the funding.
During an interview with the Fox News Channel released on Tuesday, FBI Director Christopher Wray publicly confirmed that the FBI assessed that the COVID virus most likely originated from a lab by stating that the agency has, “for quite some time now, assessed that the origins of the pandemic are most likely a potential lab incident in Wuhan.”
Wray said, [relevant remarks begin around 16:45] “[T]he FBI has, for quite some time now, assessed that the origins of the pandemic are most likely a potential lab incident in Wuhan.”
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Governor Chris Sununu (R-NH) said Tuesday on SiriusXM POTUS channel’s “The Briefing” that he is considering running for president in the Republican primary.
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A stunning report in Wednesday’s Washington Post details the tensions between FBI agents and Justice Department attorneys over the August raid of former President Donald Trump’s Florida home, Mar-a-Lago.
FBI officials were leery of the plan, and pleaded for a more measured approach, while DOJ prosecutors were hell-bent on a surprise incursion to search for classified documents:
Prosecutors argued that new evidence suggested Trump was knowingly concealing secret documents at his Palm Beach, Fla., home and urged the FBI to conduct a surprise raid at the property. But two senior FBI officials who would be in charge of leading the search resisted the plan as too combative
President Joe Biden revealed Tuesday that he will pitch raising taxes when he releases a proposed budget on March 9, but insists he will stick to his campaign promise not to hike taxes on Americans making less than $400,000 a year.
Biden made the remarks during his trip Tuesday to Virginia Beach, Virginia, in a speech that was mainly dedicated to defending the Affordable Care Act and Medicaid against Republican cuts.
'I want to make it clear, I'm gonna raise some taxes,' Biden said in the speech. 'Many of you are billionaires out there. You're going to stop paying at 3 percent.'
What First Amendment?
Senate Majority Leader Chuck Schumer (NY) on Wednesday demanded Rupert Murdoch silence Tucker Carlson and other Fox News hosts.
“Order Tucker Carlson and other hosts on Fox News to stop spreading the Big Lie.” Schumer said.
Schumer and House Minority Leader Hakeem Jeffries sent Rupert Murdoch a letter demanding he censor Fox News hosts.
“As noted in your deposition released yesterday, Tucker Carlson, Sean Hannity, Laura Ingraham, and other Fox News personalities knowingly, repeatedly, and dangerously endorsed and promoted the Big Lie that Donald Trump won the 2020 presidential election.
Student Who Beat Unconscious Teacher For
Taking His Nintendo Switch Will Be Tried
as Adult 24 replies
Taking His Nintendo Switch Will Be Tried
as Adult 24 replies
A 17-year-old student who continued to viciously beat his high school teacher after he knocked her unconscious for taking his Nintendo Switch will be tried as an adult.
Brendan Depa, 17, will be tried as an adult for the brutal beating of Joan Naydich, 57, at Palm Coast, Florida’s Mantanzas High School.
The vicious and deeply disturbing assault was captured on security camera footage, which shows a student pushing a teacher to the ground and knocking her unconscious before going on to punch and stomp on her as she lies motionless and defenseless. The mother of two was struck at least 15 times in the back of the head. [Video]
Comments:
They are pretty slow in addressing the rampant theft. Across the country ''shrinkage'' losses totaled $94 Billion.