As retailers reported their quarterly earnings this month, a phrase that kept cropping up is one you probably never heard before – “organized retail crime.” It has spiked enough that it’s eating into profits.
Turns out that, by throwing open the southern border, President Joe Biden has created a booming business for Mexican cartels ripping off U.S. retailers – although you’d never know it based on the media blackout of this trend.
Target, Dollar Tree, Foot Locker, Dick’s Sporting Goods, Nordstrom, and others recently disclosed that organized retail crime – or ORC for short – is hitting their bottom lines.
Dick’s Chief Financial Officer Navdeep Gupta said that the sports retailer lowered its profit outlook for the year in part because “the number of incidents and the organized retail crime impact came in significantly higher than we anticipated.” read more Issues Insights 1h Unions Don’t Benefit Nonunion Workers Share Story Facebook […]
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