Chocolates are now locked in American stores
Chocolates are now locked in American stores
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Due to the increase in
theft due to inflation, chocolate is now being kept under lock and key in
American stores. Whether it's toothpaste, chocolate, washing powder, or
deodorant, American
retailers now keep all everyday products under lock and key as inflation
increases petty theft and organized shoplifting.
Prices of Essential Goods
According to the news
agency AFP, like the rest of the world, in the United States, the prices of
essential goods have increased rapidly and the cost of living has
increased for ordinary consumers. In the US, major retailers such as
Walmart, Target, CVS, Walgreens, Home Depot, and Foot Locker have expressed
concern over the increasing number of thefts, which have sometimes turned
violent.
Stores' Earnings Profit Reports
There have been mentions
of these events in the stores' earnings reports or profit reports.
"Organized retail crime and general theft is an increasingly serious
problem affecting many retailers," Lorraine Hobart, chief executive of
Dick Supporting Goods, said during
a conference call.
Duck Supporting
He added that the impact
of the theft on the company's inventory was "significant" on both its
second-quarter results and spending expectations for the year. In comparison with
their previous forecast of $13 to $14 for earnings per share, Duck Supporting
Goods now expects to earn $11 to $12 at the end of the year.
Inflation has Gripped the Whole World
It is unacceptable that
just as inflation has gripped the whole world, the recent rapid wave of
inflation in America has gripped everything that everyone is worried about, especially
food. Stores that sell commodities have now started keeping their common items
under lock and key as thefts are on the rise due to inflation.
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Target Chief Executive
Target chief executive
Brian Cornell said in a separate briefing that "in the first five months
of this year, our stores saw a 120 percent increase in thefts involving violence
or threats of violence." "Our team faces an unacceptable number of
retail thefts and organized retail crimes," he said.
Curb Inflation
He said that the losses
are so high that it will not be possible to continue the business in this way
in the long run. These events are coming at a time when policymakers in the US
are trying to curb inflation and interest rates have risen from zero to five
and a half percent in the last year and a half.
