Retail's growing crime problem

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Bad and getting worse.
Welcome to the Know the Difference Minute for Thursday, December 8th.
Organized retail theft is spreading faster than COVID. Not my words—that’s what the former CEO of Home Depot said this morning. Organized theft was up over 26% last year according to the 2022 National Retail Security Survey. It certainly hasn’t gone down this year.
Retail is facing external and internal threats.
One consultant says “most” of the theft is someone on the inside. The rest is smash, grab, and run. Halting crooks is dangerous—some lowlife shoved an elderly Home Depot worker who later died.
No one is immune. Kroger. CVS. Best Buy. Walgreens. Home Depot. And Target, which reported $400,000 in shrinkage in the last quarterly earnings.
Besides tighter security, Walmart has a plan, but you won’t like it. If theft continues, they’ll just raise prices to offset the loss.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.